Addressing the 'cooling' part of the OP's question, the sort of impeller you find in the pump has much more to do with cooling than the pump material. When last I looked at an ebrock, it had a stamped steel impeller. Distinctly inferior to a properly-designed cast same. The impellers Dove put in his pumps were a slight rework of one designed by Ford's 'Skunkworks' for the road-Racing Boss 302. Moved plenty of water at low speeds, but were good past 7000 before showing signs of cavitation. Pumping efficiency goes way down when the pump starts cavitating.
KS