Yes, I used one. Quality component, well made and solid. No leaks, and no pressure drop.
When closed/cold, it allows about 10% of the
oil to pass through the cooler. As the
oil warms up, it gradually opens, as all of the
oil in the system warms up at the same time. When hot, it bypasses about 10% of the oil directly back to the engine, so there's no pressure drop.