Remember, you need a pump to move the coolant. A continuous duty pump.

You also need to install a radiator to cool the liquid.
Hoses, clamps etc.
Pumps stop working, = more maintenance, moving parts, liquid, can leak, things that will require maintenance.

A reservoir is a good idea for extra water.

In a 1/4 mile, a air to water intercooler gets heat soaked & towards the end of the 1/4 mile the temps will rise.

With an air to air, temps will also be higher during the beginning, but as you go on your 1/4 mile run, the air temps will actually drop to a cooler temp.

Now, unless you have an air to water intercooler with an ice chest full of ice cold water, then with that scenario, it will be more efficient & actually be below ambient temperature, depending on boost level etc.

What size is the air to water intercooler? Where would you place that?
Got a pic or link for the air to water intercooler?

My air to water intercooler has 2, 7" Spal fans behind the cooling radiator for the intercoolers liquid.
If I did not have the fans, the air to water intercooler would really heat soak while being stuck in traffic or long lines @ a race track before I get to make a pass.

All the extra parts not to mention the water, the weight starts to add up for an air to water system.

MBHD


12 port SDS EFI