Well I had a similar setup (later converted it to W2A). Worked very well actually. If you're going for epic power (GT35R type big boost etc), coupled with a nice fan, I actually had no issues with this. Did really well on the road. I'd chuck a bit of water over it on the dyno between runs as it would heatsoak a bit, but the on road performance was actually great. Certainly a good step up from a sidemount. I didn't give it any constant abuse, but I never heatsoaked on the road, even in traffic on a hot day.
 
IC setup & GT3037 .70 A/R results below:


 
Note, the pic was with a 35R though :)

That IC looks a lot better than the ATS one, the core looks a lot fatter and not as long, if you don't mind me asking, where'd you get it from? 
 
Another aspect I am keeping in mind is that up here in Darwin, the weather is either hot or hot lol (unless in June/July at night time it might get down to 16 degrees).  So my choice of intercooler in terms of heatsoak and intake temps has more importance than say, some-one in Melbourne. 
 
Realistically, I think I won't get BIG power...just sound upwards of 260/270 kw and by the looks of yours, you achieved it with the top mount.

Fan was sucking up?  Then that scoop isn't really helping with the airflow going the other way...or did you have the fan pushing down?
 
Also, since you went to water to air, I don't suppose you have that intercooler still hanging around and wanna sell it? :P

Well, now have my first proper mechanical trouble with the car after nearly 2 and half years from when I did the swap. 
 
I was driving home from work and slowing down at a set of lights and heard a quite audible 'clunk' as I started braking and down changing gears.  I turned the music off, and the engine was idling fine, just purring along.  I 'checked' all my gears (clutch in, slotted into 1st, 2nd, 3rd, 4th and Reverse) while the lights were red and all went in fine.
 
Thought it was my imagination so the lights went green and I took, and it clunked again with a metallic sound...but even louder!  One 'clunk' and the car still was driving fine.
 
Pulled over straight away, and just checked the engine bay over for anything out of the ordinary - but nothing.   My first thought was engine mounts and loose play, but when i eventually got home, I checked them and they seemed all fine.
 
Now, everytime I take off or change gears hard, I'll hear a clunk...so annoying.  I've checked all the rear suspension components and they 'seem' fine.  I'm starting to get paranoid now, thinking maybe gearbox or clutch issues.
 
 

MIDN1T3

Fan was sucking up?  Then that scoop isn't really helping with the airflow going the other way...or did you have the fan pushing down?

Also, since you went to water to air, I don't suppose you have that intercooler still hanging around and wanna sell it? :P

 
Sorry late reply. The fan would pull air up & the flow from the snorkel would take it around the engine bay & up the engine lid via the fan/shroud. That core is still in use so not for sale. Sealed & converted to a w2a unit.

Well its been a while since I've updated in here...been busy with work, going overseas, and haven't been using the MR2 as much as I should be.
 
It's been living in the shed for a while, only taken out probably once a month - though for a period there it wasn't used for for about three months as I dislocated my shoulder playing rugby (no chance with driving the 2 with one arm and no power steering!!!) 
 
Anyway, I've been collecting a few interior and exterior parts over the last six months (got a GT3076 ~ 280rkw build planned later this year + a paint job).
 
Here's a few photos...apologies on the quality, crappy Galaxy s2 phone.
 
In the shed with a few other toys...needed a wash.

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'95 spoiler and hood from my halfcut, started sanding and priming.

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RX8 rear and Supra front 'dogbones' from Kameleon - top quality (I still need the rotors and 94+ front calipers to fit)

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Fan shroud (Totenkopf), Ganador mirrors (DB8), spoiler pads (Lithia) and Kirkosaurus engine mounts (Mrskylighter)

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HKS turbo timer + harness (tworus), center vents (mr2ben), 94+ clockspring/stalks (rpmgarage), 94+ lock set (Gorilla Industries)

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Brand new interior plactics (DB8), and Lexus IS400 chrome handles/strikers (note - I was sent an extra set so if anyone wants to 'bling' up their interior a bit, let me know...however, I have not yet fit them)

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TRD cluster (Totenkopf), climate control (rpmgarage), Brand new Omori guage (jspec Tuning), brand new drivers side window controller (ebay)

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Love the exhaust clean up you did!
 
The top mount i'm running is the border. Doesn't heat soak nearly as quickly as the side mount, and also keeps lower temps overall when its got airflow. however if you're in traffic, it will still tend to heat soak given no airflow.