Good points:
Better heat exchange per volume
No ducting needed to/from core like air/air system
Can be "super cooled" with ice for additional performance
Bad points:
More parts (intercooler heat exchanger, hoses, pump, reservoir, on top of front-mounted radiator)
Power requirement from additional pump
Still needs an air/water radiator in the airflow to get rid of the heat. If one reason to add the system was not having room for a traditional intercooler ahead of the radiator, where is the air/water radiator going to go?
Adding ice only works for a very short time.
Requires ducting to above radiator.
The worst aspect, however,
especially for road racing, is heat-soak. The coolant heats up faster than it is cooled, resulting in higher charge temperature, lower performance, and moves the engine closer to detonation.
I decided it wasn't worth all the overhead for what it provides.
_________________
Midlana book: Build this mid-engine Locost!,
http://midlana.com/stuff/book/Kimini book: Designing mid-engine cars using FWD drivetrains
Both available from
https://www.lulu.com/