Pseud, I haven't had the PH drop with wood that you are having, but the wood in my tank is driftwood, not bogwood, so that may cause the difference. I would love it if my PH would drop, because even with CO2 mine hange in there at around 7.6. Straight from the tap it is 8 or more. I used to worry about it with the fish, but not any more.
My 45 does have a chunk of bogwood, and I have to say that I have just recently added CO2 so haven't really followed the PH. Guess I should check that....
I LOVE the big chunk of bogwod. I wanted a piece for my daughters tank and had to go to every LFS in town to finally find a piece that was tall enough and had places to attach Anubia. Most of the bogwood I found was rather flat.
The tank looks great, and will look spectacular when it fills in.