That setup looks reasonable.
The two options aren't well explained. Initial condition is just that, the amount of film present when you initialise the film. The boundary condition is how much film is added/removed and if any momentum is added to the film on that boundary, that's continuous throughout the simulation. Because you're just condensing vapour to form a film and the wall temperature is set in the Thermal tab you should get (near enough) the same result with either option.
The difference is for when you start with a film. So, initial condition might be 2mm of film that you then add to or evaporate, nothing else is added to the film from that boundary (film boundary conditions are zero). Or, if a film is continuously added by some other mechanism (eg spraying an area or rain onto a roof) but starts from a zero thickness film.