I've sold my car over a year ago, but still get notifications on this thread being active... so just to restate what my final experience was:
I had no problems after a thorough cleaning of the IAC valve. be sure to look inside every rubber hose you remove in the process of getting the IAC off the car. The thick rubber hose that came in from the side was quite big, yet it was completely shut with packed in dirt. I'm talking dirt packed so tight, you have to push it out with a screwdriver and then spray down the hose and clean out the remainder. The entry to the manifold was also completely blocked off and packed with dirt. A good cleaning was all it took to restore the idle back to normal and prevent the engine from going into limp mode.
Hope this helps someone out.