You are going to want a thermostat or at least a restrictor plate for coolant return. It is actually possible for the water to move too quickly through the system and hurt cooling efficiency. The fast moving coolant does not have time to soak up engine heat and then lose the heat in the radiator.
My .02
Andy-
Forgive me if I respectfully disagree with your proposal that slower flow will result in better heat transfer. I would never represent myself as either experienced or educated in the automotive field, but I do have some experience in air cooled heat exchangers in the natural gas industry. In that field you’ll typically see 20’ by 20’ fin and tube air cooled exchangers used to cool pipeline compressors driven by very large engines. In that particular application the goal is to have the highest coolant velocity consistent with laminar (straight-line) flow in the tubes, constrained of course by costs, available components, etc.).
The reason for this is that as the flow slows down, a unit volume of coolant first spends more time in the compressor and reaches a higher temperature, then more in the heat exchanger where it cools off more. The net heat transfer is the same, but the differential temperature between compressor and exchanger increases at reduced flows. At some point the compressor over-temps, goes off-line, and very bad things begin happening.
Increasing the rate of flow, up to a point, will bring the two temperatures closer together. A unit volume has less time to cool down in the exchanger, but spends less time heating up as well. What limits this is that at some point the liquid flow will become turbulent near the tube walls, and the rate of heat transfer abruptly falls off.
Now, whether any of this is applicable to us and our projects, I don’t know, and putting a restriction in the line, as you recommend, may very well be a good idea. I hope someone who’s tried it will chime in.