What about studs which are wet from water, is there enough lubrication from
water as compared to a dry stud to affect the torque reading?

I have somewhere here a small manual that lists the effects of
various lubricants on thread torques, but I can't find it this minute.
Might be at work. I don't think water was listed, as its lubricity
under that much pressure should be insignificant. I'll see if I can
find that book and post a few figures.

Dan