changing the oil regulary with quality stuff will probably have more of an effect than fitting an oil cooler with old oil in the engine, im talking about cars which spend most of their time on the public road.
If i was going on track days often ect id consider one definatly or if i had a highly modded motor
As for quater mile runs, most people push their cars to the start ect and youve only got around 15 seconds of flat out, doubt a cooler will make any difference except to your wallet.