Crazy LT1 waterpump idea, Shoehorning an LT1 into a 914! Options

[bondo]

As some of you already know, I'm doing a V8 conversion in my 914 with an LT1 from a 1993 firebird. The cam driven waterpump sticks out the front and gets in the way in a big way. In order to avoid extreme firewall modifications, I came up with a crazy idea... I'll install an electric waterpump kit in the stock waterpump housing... and mount the sucker up by the radiator! It will require a couple of custom flanges, and a couple hose "Ys" but it should work.. with one possible exception. The thermostat is in the water pump, and it's a fancy bypass thermostat. instead of blocking the water until it warms up, it bypasses the radiator until it warms up, and once it warms up it closes the bypass and opens the radiator. I'm worried that the engine may overheat before the thermostat has a chance to open, because it's farther away and will react later than usual. Has anyone ever done anything even remotely like this? Am I nuts?

--Royce