Water/Coolant is a great cooling media, however, hot water is not as good as cold water!
The engine coolant is rather hot to be trying to do the oil any favors. The most effective possible coolant/oil exchanger, could in theory keep the oil temps down to coolant temp. But I am not sure what it would take to get such an effective system since it was a sort of alternative method that doesnt seem to be as widely practiced.
The complaint many people will have is that it simply transfers the burden to the radiator. I get that, and that makes sense. On the other hand, if it only means having to upgrade the radiator, and not add an oil cooler... that seems like it could be a positive product. However, without a lot of testing and examples, I am not sure anyone would put any faith in it. It might be out of my knowledge and experience to invest in.
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