Help me out here, as my imagination is suffering a bit. I got the part of relocating the radiator and adding an electric motor/generator and a small battery pack. Then, (the short version would be fine) how does it help? Is it a way to restart the engine after you've shut it off for stopping?, or some way to reduce the strain on the engine while going down the road?
Any way you look at it, I say it's a great idea! I'm a big fan of older cars. They look great and get approving nods from people even when you are going slower than the average rushed / stressed commuter.
I too visualize a subcompact project car in my future, but was thinking either electric propulsion, or 3 cylinder turbo-diesel like Jack McCormack put in Max. (Mothers Automotive X-prize entry Locust)