Alright so it's been a few weeks since I installed the louvers... No I did not have to cut into any of the hood supports, although I was very close to drilling a hole for a rivet through on of the supports (no big deal).
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My under hood insulation was falling apart in the areas where I put the louvers so I just cut them straight back along the under hood support structure. As you can see, I eyeballed it with a razor knife and it's a little bit off.
Now for the data. I wanted to run this testing to see if the louvers being in place were directly related to water temperature. In hind sight, I really should have gathered data on both my under hood temperatures and IAT's pre and post louvers, but I didn't. Oh well.
Highways speeds there is little to no effect (0°-2° cooler water temp). The biggest area that I noticed a change is pulling in to and driving down my driveway (for reference: I live down a quarter mile dirt road - do to dust and being neighborly, I usually don't travel down it much faster than 15 mph). The louvers don't seem have a direct correlation with the water temperature at slow speeds, but they did seem slow down the inevitable. What I mean by that is the rate at which my water temperature rose. My Cruiser at it's hottest, typically runs around 196°. Before installing the louvers, I would hit that 196° by the time I put it in park. After installing the louvers, I would come down the driveway, park, and in order to hit 196° again I had to wait 5 minutes in my driveway. This was on a day that was 92° outside with 35% humidity, compared to the first trip (without the louvers) at 91° and 38% humidity, so the ambient temperature/feel was almost identical. The drive itself was from work to home on both occasions (a 10 mile, 20 minute trip consisting of getting going to 60mph, slow down for stop lights, back up to 60, slow down again, back up to 60, stop at light, etc).
Another thing that I have noticed is that the fenders do not get as hot to the touch after trips. And after a trip, if you place your hand above one of the louvers, it's shockingly hot!
Based on what I've found, there are some obvious benefits to the louvers. Are they easy to install, yes. Do they look cool, yes. Will they cure your overheating problem, no. Would I do it again, probably.