In the maintenance presentations Chevy used to do when they sold the P chassis, they were adamant that anything other than hardware cloth (to stop rocks) was a very bad idea.
Their suggestion was if you thought what you were going to use did not restrict air flow was to take a 3' by 3' square of the material, drive 60 MPG and hold it out the window. You will see the restriction/DRAG very quickly.
If you want to improve air flow through the radiator, block off access to wheel wells, etc. Basically the objective is to force all the air that comes through the grill to go through the radiator, not "seek" the low pressure areas below the radiator and front wheel wells.