Excellent point about the air Piwoslaw. That would create problems. I'm not a fan of diverting exhaust though. Its usually too restrictive with space issues. Plus, over time we're looking at carbon deposits gunking things up.
I really like the heat pipe idea Ryland. Any ideas on how to physically implement that idea? You'd need a high temperature valve, and the system would need to hold up to fair amounts of pressure.
To take Rylands idea and twist it a bit. What about using a physical copper block as a heat pipe, and physically disconnect it to remove heat to the coolant heat exchanger. Here is a pic of the idea.