On a recent Basic Brewing Podcast, he interviewed a guy from B-T-F, the makers of Iodophor. He made the following points that are important:
--It is rated as a sanitizer at 12.5 ppm. That is 0.5 oz per 5 gallons (0.1oz/gallon; 3ml/gallon).
--It sanitizes with one minute contact time. That does not have to be soaking time, just wet for one minute. For example, he said a quart or two in a 5 gallon carboy given a few shakes flipped upside down will sanitize. He said some people have had success with spray bottles.
--No rinse sanitizer doesn't mean it has to air dry. If it is still wet, it is fine there will be no off flavors.
--It will stain in the concentrated form.
Hope this helps.