My thoughts are the bypass served two purposes, first it helps with hot spots and second it helps get the engine uniformly up to operating tempature as fast as possible, most of your wear happens when the engine is cold.
My 0.02 cents...
Mike B
Mike Boteler
1956 Chevy 3100 Resto Rod 1952 Willys M38 Army Jeep 1983 Jeep CJ7 Laredo 1984 Jeep CJ7 +++++ Silver Spring, MD