ProCharged w/ knock

I am running a 1991 TA 305 TPI with a ProCharger (10 # boost). I am getting knock and timing retard with just a flash of boost. :(

I am looking into either a boost timing control module or an alky/water kit.

Please let me know what the consensus is on these items.

I currently have a Jacob's Pro Street set up so I would prefer to find something that would allow me to keep it. Brand new.

Thanks.