I have used water-to-air intercooler before from an original works Toyota Celica GT-4 .... It was a great concept during the early 90's of WRC and some Le-Man's cars. It definately has a weight penalty for the amount of plumbing, water, pump, core to soak the charge air, and another core to cool the water within the system. No doubt the charge air plumbing is shorter, however, with modern intercooler, there's hardly any known pressure drops.
I apologize in advance as I dislike to offend anyone's design, but the heat exchanger is definately not big enough (normally on the Group A production Celica's, they are almost, if not 3/4 the size of the radiator), and the charge air to water exhanger is definately alittle small. It might also help if PWR would implement a swirl-pot as well as it does makes some difference.
Apart from that, it's definately looks pretty cool and impressive on the engine bay.
If I pissed off anyone, let me know and I'll delete this post. Just my 2 cents. Sorry.