Some random thoughts:
Not addressing the FAT particularly, but all superchargers, whether engine driven or exhaust gas driven (turbochargers) make things a lot hotter, without an intercooler. That's what intercoolers are for, to reduce the intake air temperature. Neither the description nor the photos of the FAT seem to indicate an intercooler as part of the installation. I also note in their website that they actually seem to like the higher temperature, as it tends to atomize the fuel better.
That doesn't necessarily make the FAT a bad thing, but it's something to consider. Mooney found out that an intercooler, which they put on the 252, made a huge difference in CHTs and TITs, and there are a number of after market intercoolers available for the 231 which improve the CHTs on that model. Auto manufacturers which started installing superchargers and turbochargers on their engines have learned the hard way that intercoolers make a big difference in engine longevity, which is why most current factory installations have them. Even then, the life span of turbo'd engines is generally somewhat less than normally aspirated engines.
The first time I was involved in considering whether to supercharge/turbocharge an aircraft engine was in the mid-70s. Three of us had a 1970 182, which at about 1300 hours was showing too low compression in half the cylinders. We'd already had one of the other cylinders "topped", and so we decided just to go ahead and have the engine overhauled. At that time, the Rajay turbocharger with the manual waste gate operated by a 2nd throttle was available for it and a number of other airplanes, and so we gave it some real thought. We discussed it with the overhauler (the owner of the original Firewall Forward at FNL), and he and I had many hours of discussions about superchargers and turbochargers in general. Our final decision was not to do it, largely because we were all concerned that we'd forget to open the wastegate some time during a descent and overstress the engine on a go around, or have it closed during a lower altitude take off with similar overstressing.
When the remaining two of us decided to trade the Skylane for a new TR182, one of the concerns was manually operating the wastegate of the turbocharger. Although there's not a wastegate on the FAT system, that's still a concern, and most of the time, it's a non-issue--the pilot watches the MP on take off to make sure there's not an overboost on both systems. More workload, but the TR182 had a pop-off valve to prevent overboosting, and the FAT doesn't. I can recall one instance in which during an emergency go-around, I shoved the throttle to the firewall through habit and the pop-off valve opened--very distinct sound. So I can imagine a pilot of a FAT equipped airplane, faced suddenly with the need to add full power, over-doing it in the stress of the moment and damaging the engine.
As anyone who has flown a number of turbo'd engines without automatic waste gate controllers knows, this watching the MP is not difficult to handle. In a back country situation with a narrow strip surrounded by trees, it might be more difficult, but it's not insurmountable. But I would be concerned with the lack of an overboost valve in the FAT system. I'm no mechanic, but I'll bet a lot of pop-off valves in Mooney 231s, TR182s, Turbo-Arrows, and others with either fixed waste gates or manually operated waste gates have opened and saved the engines.
As the saying goes, there's no free lunch. If I were in the market for a more powerful 182 or 180, I'd opt for a more powerful normally aspirated engine. But that's me--others can make their own decisions.
Cary