Theory says that more dense air=more air in the cylinder=more fuel to keep the ratio close to 14.7=Higher energy combustion=more temp generally.
AT WHAT RPM????
In my opinion an intercooler could help an engine achieve a desired HP or TORQUE output at lower rpm due to what theory says. Consider the differencies in temps at low, mid and HIGH rpm, at the heads, exhaust valve, crank bearings and cam bearings. Simply due to the friction involved there are differencies.
so why go for the top end High HP? instead go for all roung torque (mid rpm) and have a more reliable engine...Anyway its torque that makes the car move...so more torque=easier through the gears... use a long diff and an uprated trans and you will have a car that it will be fun to drive, quick and more user friendly (for those that share their bugs with their wife etc.
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Chris