Hey, welcome to ecomodder!
While a warm air intake is a good idea, I don't know that sucking heat out of your oil is the best way to accomplish it.
Essentially you'd be gaining a bit by reducing pumping losses with the WAI. But, I'd be worried about that heat loss in the oil reducing your oil's viscosity, thereby increasing losses in the engine.
Given, the losses from oil viscosity aren't going to be much, but if you don't need oil cooling anyway (if you don't have a high-performance high-powered car) then there are much better places to get free heat, like the exhaust manifold.
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"I got 350 heads on a 305 engine. I get 10 miles to the gallon. I ain't got no good intentions." - The Drive By Truckers.
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