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When I put everything back into the transam from the formula I ran the hose that comes off the steam pipes straight ahead to the second connection down on the radiator. Capped off the two nipples I the throttle body. Then ran the bottom small outlet on the pump over to the oil cooler and out of that to the other side of the radiator. Is that gonna work?
93 & 94 F-Body are different, due to the routing of the hose from the steam pipe directly to the radiator. Method is the same.... pull two hoses off the throttle body, connect them together.
95 thru 97 F-Body route the return from the steam pipe through the throttle body before it goes to the radiator. Because of this difference, you don't need to use a coupler at all if you don't want to. Pull the rubber elbow off the passenger side of the throttle body and toss it, or save it somewhere. Take the hose off the driver side of the throttle body, pull it towards the steam pipe, connect to steam pipe. No coupler. See Shoebox's photo:
http://shbox.com/1/tb_bypass.jpg
How much power - dynotest from 20 years ago:
http://www.ws6.com/mod-8.htm
6.3 peak HP at the rear wheels, 7.1 peak lb-ft.