My .02:
If you are going to restrict yourself to street driving, skip the cooler. If you will race the car, plumb the cooler with a thermostat and a check valve--Earls sells both at
www.amstreetrod.com --
the cooler will add capacity and maintain temperature, the thermostat will guard against temps too low (bad for the bearings) and the in line check valve will protect the cooler from psi blasts when you punch the throttle w/ a cold engine. this is the set up I have used for years, and have had zero problems.