How does air and water temperature affect top speed
 

This came up in another thread and I think it warrants its own discussion. How does air and water temperature affect the ultimate top speed of a V hull and a Cat hull? The colder temps will allow the engines to produce more power. Colder air creates more aerodynamic drag. In land speed racing the advantage of hot thin air allows higher top speeds even though power is diminished. I would think that a cat is more aerodynamic than a v hull (don't know for sure) so cold air should have a lesser negative aerodynamic affect and produce higher speeds with the additional power. It would also provide additional lift. Even a V hull must be getting substantial lift at speeds near 160mph.

Throwing in the other medium of water, maybe aerodynamics isn't an issue. If the drag of the water exceeds the aerodynamic drag it would seem to be irrelevant. I'm asking???

I have no idea how water temperature would affect things like drag, prop slip, etc.

For every 10* cooler the intake charge it could make 1% more power.
Hence 50* cooler...5% more power.
As far as water being cold...helps the inncoolers chill the intake charge even more.