I voted electric, b/c that's what I use. Then realized you asked which cools better...that'd be mechanical. I'm just not willing to take the power loss.

CHIP
'70 hemicuda, 575" Hemi, 727, Dana 60
'69 road runner, 440-6, 4 speed, Dana 60
'71 Demon 340, no drivetrain, on blocks behind the barn
'73 Chrysler New Yorker, 440, 727, 8.75
'90 Chevy 454SS Silverado, 476" BBC, TH400, 14 bolt
'06 GMC 2500HD LBZ Duramax