You can still get heat soaked without it being tied to the main system if it cannot dispel heat from the compressed air from the turbo quick enough. I bet this is the reason why Ford changed this system over the years and start moving things like the EGR cooler and trans oil cooler from this secondary system to the main cooling system. I wonder if they also put in front of everything now or still have the A/C condenser in front of it.
There is a reason why water-to-air intercooler are mainly popular in drag racing applications and air-to-air are more popular in longer duration track applications.