This is incorrect. The mean pressure would not be affected at all - the reason that you get less VOLUME is that a given volume of hot air takes up more physical space than cold. Same pressure, fewer molecules per unit of measure. When the intercooler heatsoaks, it loses the ability to cool (and thus condense) the air that is being supplied to it. Again, this will not create a real pressure difference, but it will sightly reduce the normal pressure drop expected when the IC is working well. In the case of a stock sidemount, the difference would be too little to measure on the average boost gauge.
As for why you would be losing boost once it warms up, there are a few things. A bad O2 could be teling the engine to dump fuel. That would contribute to it. You could be seeing high knock counts, resulting in pulled timing. If ou have a lot of carbon built up, that's a real possibility once it warms up. You could also have a bad water temp sensor that's keeping the engine in "warm up" mode. Most likely it's a combination of some of the above with some other stuff thrown in. Little things like dirty plugs, "leaky" plug wires, old oil that's lost viscousity, any of the above could contribute in a very real way. Remember, turbos are more than pinwheels - they use exhasut pressure AND HEAT to spin up. If your exhaust temps are staying low - say, 1400 range - the turbo will not be very efficient. The fact that it runs good cold would lead me to look at the temp sensor, plugs and wires, and to check for an exhaust leak before the turbine. Just my $.02 - and probably worth about that much.

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