i would do it! The one on my 331 works great...only down side is that it takes it 20 minutes to get to operating temperature if i start the car with it running!
summit has some electric waterpump drive kit for $89. not sure if that includes everything or not
Not setup with a thermostat to determine when it kicks on?
No, not the mechanical thermostat that resides in the system in stock form. I mean an add-on electronic thermostat w/ controller that reads engine temp and controls when things like an electric pump or fan kick on.