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That's pretty accurate. Here's something I snipped from one of the original clamp mod threads:
"The clamp is three small 1 Amp diodes and a 470 ohm resistor in series replacing the 10K. Since the clamp doesn't do anything until about 1.8 volts and idle voltages are .9-1.3v, idle is normal. Then, when you get into it, the clamp comes on hard, softened only by the 470 ohms. Feels like about 50 HP - for 2 bucks of parts!"