I had an EWP on my 2005 GTO for a couple years,
it was documented to free up 15-18 wheel HorsePower, but that's on a 400hp car
I liked it because it was great at cooling down the car between races (I could run it with the engine off)
the thermostat only determines if the coolant is going thru the radiator, coolant is still moving thru the block and heater core in most vehicles even when the thermostat is closed
id imagine if you're freeing up 5% horsepower, you're going to see some of that in the fuel economy
the problem that I ran into,
most EWP's aren't really rated for the kind of use it'll see in a street vehicle, they are probably only good for a few years (mine lasted about 2 before I sent it in to the manufacturer for rebuild)
Meziere stood behind there product, even polished it up before sending it back to me
https://www.meziere.com
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2005 GTO 6.0 V8 (600hp)
1991 Geo Metro 1.0 3/5 base
2010 Prius II (replaced 2001 Tahoe 5.3 V8 April 2014)
1994 F-350 7.3 TurboDiesel (Rollin' Coal)