not really worth the hassle, pros are apparent better spool/response due to shorter piping. cons are you have to run a fugly vented hood.
now for my 2 cents:
-IMO, thats not the ideal way to V mount. the radiator should be angled outwards, so the air passes into the bumper opening, through the radiator and fans, then up through the intercooler core, and out the hood vent. the picture posted i've seen many times, but i question how the air coming in the bumper and the hood vent pulling some of the air out through the top and the intercooler, how it actually manages to cool the radiator well enough being that its just kinda brushing the top...though the fans help pull some through, but it just isnt in the direct path of the air. the air seems to just pass parallel to the surface of the radiator. i dunno, it might work, but probably not as well as the "outward" Vmount setup.
-without proper ducting and sealing, it's nothing more than a fancy 'look at me' mod.
i guess it's good if you live in california and want to hide your ic and your modded car from the nazi smog patrol or cops or something, but i dont see the point in so much effort for so little functional gain other than the large (might be important to some) aesthetically pleasing look (see: JDM tiiite yo). if you want to hide the FMIC, just mount it between the a/c condenser and radiator (in that space)..that will also provide the shorter piping and stealthy look.