It somewhat depends on how much water you got in the hoses, how long they are, the temperature, and a few other variables. But for a 12 foot torch cable I would guess that if you lay it out flat on the floor, so the moisture doesn't have to travel uphill, if you run about 50+ CFH for a minute or two, you should have it pretty well cleared out. How wet was your air? Plasma doesn't like wet air either. I guess this is another thing to keep track of with multi-process machines.
Long arc, short arc, heliarc and in-the-dark!