Louvers can add to the build look of certain cars - 40 plus Hemi = pure Hot Rod for instance. I have done them in a few cars/trucks and they seem to scream Hot Rod to many people that check the look. I have never had a water drip problem that bothered me but then all were drivers. A simple drip pan under the louvers would solve the drip if it bothered you and you slowed done enough to allow drips, unlikely. For you, you are going to have to have a very good cooling system to begin with, and the compartment is filling up with all that big motor, I would do it for the cooling factor alone. Plus as noted, 40 plus Hemi plus big tires plus louvers all scream Hot Rod.