No kidding!
Yes.. the nicotine will go down a notch. Remember... I'm only talking 10% (MAX) alcohol..... so if you were using 24mg nic you would now have about 22.
Unflavored alcohol (PGA) will have little or no effect on the flavor. Since 151 is flavored... yeah... there might be a slight "tinge" of that coming
through. But I mix it with English Toffee or Butterscotch flavored liquid anyway... so I don't taste it at all.