ok, correct me if I haven't read it yet....

What is the advantage of a larger/cooler intercooler?

Lemmie see if I can answer it myself: The Intercooler is basically a radiator that cools the pressurized air coming from the supercharger (or turbo, to be generic), thus creating a higher density charge, thus providing more horsepower capability. The water-cooling is a closed-loop system allowing the intercooler to maintain a consistently cool temperature, less dependant on ambient temperature.

Did I get the idea?

Cheers,
Ryan