So some comments on this...
At first I was this was a bit over the top. When I looked at the car I didn't like the fan exposed there, but since it has greatly grown on me and I now really like it there. It is proof that the car has "something" lurking under the hood

Why did I do this?
I first decided to mount the fan on the underside of the IC and use it as a pusher. But with the fan mounted directly onto the IC, the air would cavitate and actually blow out backwards out of the fan. Also the fan was quite and didn't sound right. The SECOND you move the fan about an inch away from the IC it would suddenly change in sound and REALYL start moving some air. You could feel it well pushing through the IC.
Then I thought, well, I need to cut the hood above the IC anyway, and I wasn't sure what the best way to luver it or make it look nice (since I am not much of a body or bondo guy), and so I positioned the fan to the hood.
Benefits of mounting on the hood:
There is about 2-inch gap between the fan and the IC, so air REALLY moves
I don't have to worry about how to modify the hood since it will be cut just for the fan
The fan is round and the IC is rectangular, so with the fan mounted to the hood I can simply put rubber stripping around the perimeter of the IC that will seal with the hood, and the fan will suck air out from the entire space. This isn't possible is the round fan is mounted directly to the IC. A lot of cooling space would be lost.
So those are the main reasons why I choose to do it this way. I guess I could paint the fan white, but really I don't mind it on the hood at all. Also, I will be installing a car alarm soon, so if someone tampers with it the alarm would go off. I guess someone could take a long screw driver and jack up my IC, or they could cut the fan wires... But seriously, I am not worried about that. Ohh well, if someone does that then I probably I had it coming to me anyway
The fan is a 12" fan that is rated for 1,200 CFM at 12 volts. At 14 volts is spins even faster (logically).