Steve: Do a search on oil coolers on this forum - we covered this a few months ago and that info might be useful for you.
Also, make sure that all of your engine compartment shields are in place (NOT the engine tins, but the shields that seal off the entire engine compartment as you look into the rear hood). The top side of the engine should be completely sealed off from everything else, especially the lower part of the engine where all of the heat is. Make sure you have an opening in the firewall directly in front of the fan intake on the front of the engine so you get as much fresh air into the intake as is possible.
A couple oil cooler location alternatives I've seen that look pretty trick: Henry at Intermechannica mounted George Browns' cooler in the drivers side engine compartment wall, between the left rear wheel and the engine, with the fan blowing OUT. Bear in mind that he also installed a Carrera-style louvered engine cover to get more air in there in the first place, but that is probably overkill.
Another place I've seen that looks really good, is to mount the cooler in front, on a shallow angle (think Ford GT-40 cooling, here), between the bumper mounts with airflow running up through and down toward the rear, with the fan blowing down. For this, you'll have to run oil lines through the central tunnel from the engine to the front.
For the best oil cooling, IMHO you should only be considering a POWERED cooler with an integral fan. For a really good one, take a look at the Derale 15820 at:
www.derale.com/fanmountedoilcoolers.shtml
It has AN8 connectors attached for oil lines, is a 16-pass low-profile version and it does a great job. While it's about 3 1/2 inches thick, it has beefy mounting tabs and is pretty easy to locate. It would fit onto that left side wall nicely, if you haven't anything else there already.
Hope this helps........gn