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I've done Dave's way and really like it. I sometimes find that spraying every 30 minutes can occasionally get it too wet and prevent a nice crust from forming. Just keep an eye on it - if it looks like your rub is running or clumping, either decrease the frequency of the spray or spray from further away from the ribs to make it more of a "mist."
Check out Car Wash Mike's recipe on this site. Mike was famous among the Egghead world because of his recipe.