I would think that undersized cast iron "log" manifolds would benefit the most from cooler exhaust. Plenty of velocity already. The water jacketed manifolds would have their greatest benefit on a totally thermally managed ICE. There was a university that did an experimental "throttle-less engine" which basically used warmer air for lower RPMs, with less fuel to maintain the targeted AF ratios. Cooler Air Temps = Higher RPM and more fuel. Needless to say, FE (is that how they say Fuel Economy 'round here?) went up as well, due to greater thermal efficiency from the preheated air!
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