I was reading through some of the old postings and came across Leon's post in which he suggested putting a water cooled matrix in a modified oil pan (sump).  This seems to have a lot going for it.

I knew I remembered reading that on the list, and Leon mentioned it again following my recent incident.  I particularly like (for obvious reasons)  the fact that you can avoid having pressurized oil in a cooler near the hot exhaust.  I also like the thought of oil/water coolers, and this would be a very convenient way to mount one.  I haven't completely given up the thought of trying this, but I just don't think I have room for the pan modifications with my current mount.     

What am I missing (apart from pictures of wombats and/or nude moose).