Very cheap and simple mod that helps reduce underhood temperatures. Just buy some washers from Home Depot and stick them between the screw and bracket on the hood. I used 3 on the top and 2 on the bottom. Remember to remove the piece of rubber on the car for maximum cooling. (I did mine before the car was repainted so the body shop guys painted the washers along with the hood ... that's why they're blue):

All the hot underhood air escapes here:

Doesn't look too ugly:

Definitely works though. You'll notice a slight decrease in coolant temp. Go is more important than show right?? ;)

For those worried about water getting in the engine compartment, I've had the hood raised since 1995 and haven't had any problems with rain or washing the car.