Here's something else to consider - as you're driving, the air under your truck (cold air) has a higher dynamic pressure than the air over the hood. Additionally, with a typical hood (no cowl or scoop) the air coming through the radiator (hot air) bottlenecks in the back of the engine bay, and is forced to fight the underside air and escape under the cab. Now, what happens if you open up a few exhaust vents in the hood? Like I mentioned, overhood air has lower dynamic pressure than underside air, so as you're driving there's a natural tendency of the overhood air to pull some of the underside air up and through the engine bay - at the same time the hot air through the radiator also has the natura tendency of going up. So by adding those hood vents we are now pulling the hot air from the radiator out of the engine bay, and replacing it with cold air from the underside of the truck, all without any power input whatsoever - if you place your air intake inlet behind the radiator shroud and before the exhaust manifolds, and slightly off to the side of the radiator, you can take advantage of this cold underside air for engine power purposes, and you will also see a drop in engine bay ambient temperatures. The trick in this whole ordeal is where to place the vents - cowl or scoop will not work because the both take dynamically pressurized overhood air shove it under the hood, thus working against what we're trying to achieve. But, have you seen a mid-'90s Pontaic Grand Prix GTP? These have small hood gills at about 1/3 of the hood length (measuring from the front edge), and this is about where you should put the vents in your hood as well (obviously will need to be larger).
And in case you're wondering - yes, I plan on doing this to my own truck, whenever I can find vents that will look good on it.