The IAC acts like a choke on a fuel injected motor, it closes off the IAC port when cold and opens up as it warms up. should be open all the way after 10 min.
usually they stick open and you have to crack the throttle to start the engine and keep it running till it is warm.
not to say it cant stick closed or semi-closed making it run rich, just like a closed choke after warm
easy to diag. after the engine is warmed uptake the IAC out and see what position the plunger is, if its causing your problem it will be out far instead of being retracted all the way. you can tell by looking how deep the plunger should go to close off the port in the hole.
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"Changes In Latitudes, Changes In Attitudes "

1996 238 Vista dlx "Casper's Toy Too"
2006 5.0GXI w/closed cooling, DP-sm 1.95 drive
Previous boat:
1998 Sundowner 205