I didn't want to remove the gasket along the back of the engine compartment as I'm worried about water flowing by it when I wash the car or something.  Also, I didn't want to raise the back of the hood and have it look unstock.  There are holes already on the inside back of the hood, I just needed to add a way for the hot air to escape to the outside.  The back edge of the Supra hood "scoop" is not used for anything, and it is tucked under/protected very well.  I will put some holes in this.  With a thermometer, I got a pre-mod reading of 170 degrees.

I had to remove the hood myself so I made a stick that propped the hood up not quite all the way.  I then taped some rags onto the back two corners, removed the four hinge bolts, and let the hood settle onto the padded corners.  I removed the hood prop, lowered the front to get a good grip and took the hood off the car.  I set the front of the hood down onto a couple of layers of cardboard and propped it up on some padding.  I taped up the area at the back of the hood scoop and drew in my planned cuts.  I do not want to remove too much material and weaken the hood, so I will be making two holes to a side, each 3/4 inches tall by 1 1/2 inches long.  I made the inside two holes just above the oval holes on the bottom, back of the hood.  I then drilled out the corners using progressively larger bits.  I tried to not press too hard as I didn't want to slip and dent the top of the hood from the inside.  I then used the dremel to connect the holes and filed the edges smooth.  With a little hand sanding to prepare the area for painting and to clean up the cuts, I painted the area semi-gloss black. 

1- This mod would have been especially difficult if I were one of those people that couldn't draw a straight line, even with a ruler.  It would have been less difficult if I'd had someone to help take the hood off.  As it was, it takes an even and firm hand with the dremel to get nice straight lines.

1- In a couple of spots I pushed the drill bit too hard.  When it punched through I actually dented the inside of the hood.  Be careful.

After the hood vent, the thermometer reads 140 degrees.  I'd say that was a huge payoff, especially in light of the cost and ease of this mod.

None.

30 degrees less of under hood temp seems like a great upgrade to me.