Right now I have the CP performance remote mounted oil thermostat. It works fine, but I don't like running the oil lines all over the place. The thermostatically controlled cooler sounds like the way to go as long as it can cool better than the stock equipment, and fit in the same area. I will have to check out the Mr. Cool stuff.

do you have any pics of your set up? I am getting ready to do the same thing, and was curious where you mounted it? My oil cooler is mounted to the floor right next to the bilge. I would like to mount the thermostat right to the cooler, and have minimal oil line runs that way.