Well, everyone talks about hood spacers being bad and HVAC problems and "what ifs", so I decided to run with it being the stubborn young gun I am. I am reasonably pleased with the results.
I always thought my truck ran warm, it never overheated according to my needle, but opening the hood it just felt way warmer than anything I have ever driven. That's definately not the case now, I estimate a good 20* drop in average underhood temps. I'll get some numbers once my water temp guage adapter comes in, for more solid results.
Been driving like this for over a month now, and the only problem I have is with the windows down pulling away from a stop I can sometimes catch a whif of "engine smell", same with running fresh air through the vents. No smell at speed, no feelings associated with fumes, passengers haven't commented on it either.
I used a 1" steel spacer and a 1/2" nylon spacer with washers at both ends of the nylon.
Here are some pics, 1" steel spacer, 1/2" nylon spacer, and washers.