Clanad, surely it isn't just the air coming out of solution; it is the liquid itself evaporating, which, as you rightly say, happens at lower temperatures the lower the pressure.
Don't they say that you can't make a decent cup of tea (British style) on a high mountain because the water boils at too low a temperature to infuse the tea properly? (You Americans have no problem because you like your tea weak, having just hung a teabag in barely-hot water for a few seconds.)