Yes, it does make a difference. In fact, there is a formula (of course) to predict how much the boost will fall off:
(Alititude / 1000) x .2 = the amount of boost you will lose.
For example, at 3900':
3900 / 1000 = 3.9
3.9 x .2 = .78 psi
So, at 3900', you should expect the boost to be .78 psi lower than it would be at sea level.
Take care,
-Chris
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