Not an MV but I have run a Water to air intercooler before.
I had a buddy box in the stock intercooler on a 2004 Neon SRT4, with an inlet port at the bottom and an outlet port at the top.
Then ran the outlet to a Mercedes diesel oil cooler above the intercooler (used as a heater exchanger / radiator), then back to the 3 gallon cell in the trunk.
The entire system held just under 5 gallons and I used to pack the cell with ice at the track. An RV water pump was used and the entire system was under $250 in parts.
Had a ScanTool hooked up to it one day, after 4 passes at 25lbs of boost the IAT's were 5 degrees above ambient in 3rd gear, WOT with 3 people in the car.
It is a option, the only reason I did it was I raced the car more than I drove it. (I know, I know Fail wheel drive and a
POS neon, but it was fun.)
Best run on just the turbo (never ran with the N20) was a 12.09 @117.3