If you do remove the thermostat (I wouldn't recommend it) dont remove completely just cut out the valve part out and then put the rest back in as a restrictor as most cars I have done this to wouldn't cool properly without some form of restictor there to keep water from flowing to fast through the radiator, were not track cars though but I think this would still be the case.
Living in darwin am keen to see your results will be fitting an oil cooler and thinking EL ford twin thermos when on break myself as she gets pretty warm on the track definitly going to try to seal round the radiator/intercooler a bit too.
Still waiting on my vented carbon bonnet (custom carbon Qld. jobbie) sounds like similar venting to yours so interested to here about the changes you made to seal that better too, sounds like this may be worthwhile also.