Sweet!
Let's see, off the top, 125 thousandths = 125 amps (roughly.) I'd set mine up easily at 200 amps (the max my machine does) and feather it back as needed with the footpedal. Don't be afraid to stop the weld bead and give it a few seconds to cool down (for heat control) if the work is getting too hot.
Be aware the intercooler will absorb a lot of welding heat (partly because it is designed to transfer heat away!) It's going to take more current than you might otherwise expect.
I'd probably mix in a little helium and use a 1/16" tungsten, but assuming you are using argon, you'll probably want a 3/32" tungsten. 25% EP balance should be fine. If it were me, I'd set 20% to take the heat off my tungsten but we are splitting hairs. AC Frequency? I don't really know, I'm used to nonadjustable 60Hz though. Maybe go 100Hz, but I'm not sure.
I wouldn't use any pulse, but adding some won't really hurt either. Just remember to increase your peak current to compensate for the lower background current you are using (don't let you average current get to low from the pulse settings.)
That's great to hear you are going to practice on some scraps. Don't be too intimidated by them.
Try and keep your gas cup pointing not too far sideways for good gas coverage (it might be tricky in that spot where you weld between the thick mounting tab and the blowoff valve.) Get a good ground on it somewhere (I'd clamp directly to it.) Try and taper off your welding current slowly, to avoid craters.
I'd probably go with 4043 filler rod on this, since the part gets hot.
'13 Everlast 255EXT
'07 Everlast Super200P