Yup, I run the FRPP unit. It has a piece that bolts where your oil filter goes, and the oil filter goes on it. In the unit there is a t-stat that opens at higher temps. Two lines run to a oil cooler. It's a really beefy cooler. I run mine attached to the radiator where it gets air pulled through it by the fan. It definatly makes a difference in oil temps, I don't have a gauge but the engine stays cooler. You have to keep in mind that the coolant is limited to what it can cool, the oil is the only thing that cools the berrings and rings, ect.
I've scene units on summit and jegs that are aftermarket and probally do just as well if not better. I like the Ford unit because it came stock on the police cars, and is comparably priced and I know it is easy bolt on, which it was. Some aftermarket units have provisions for trans and oil.