OK for the record:
It is not JOEBLO re-incarnated, Joe Cutelli purchased that car back from Chris over here in WA, and I believe it is/has raced again with a blower, not turbos. For a short while the car did have a TT setup from Eddie Tassone, but I don't believe it ever got down the track.
It is road registered... meaning he pays the rego. No one said it was street driven or legal.
It has XU-1 stickers on it because it is reportedly a genuine XU-1
It is a small block, I believe an all alloy SB2 style, with larger bores, raised cam tunnel and extra clearances.
While I don't think you'll ever see A/C cooled intercoolers (you'd be using more energy than you'd gain) the principle is being used in the form of NX's N-tercooler and Cyrotec's CO2 spray setups. For drag racing (short term use) water to air intercoolers where the coolant/water passes through dry ice or similar bath can exceed 100% efficiency. I've seen a car here in WA with this setup, and CO2 inlet sprayers recording intake temps of 0 degrees or below.