By "stock oil cooler" do you mean this:
or this:
You should not remove the top part, even if you're building something like the lower part. But if you spun a bearing, DO NOT REUSE the stock water/oil heat exchanger (above part). It is likely full of bearing bits that will ruin your new motor. You seem to know that already, but I mention it because I learned it the hard way.
On my racecar, I've got the following setup:
Canton Remote Filter Adapter (CAN22597)
Canton Remote Filter Mount (CAN22625)
Fluidyne 11x8x2" Oil Cooler (DB-30120)
-10AN steel braided lines and Earls fittings
You can kinda see the cooler and remote oil filter in this picture (cooler is on the passenger side between the intercooler and radiator, oil filter is in front of the broken wheel):
I still have the stock oil cooler/heat exchanger. It's good to keep because it mixes the heat between the coolant and the oil... since coolant heats up faster on cold days, it helps get the oil temps up more quickly. Speaking of oil temps; if you're going to run a big-ass oil cooler like mine on the street, get a 180F oilstat to bypass the cooler on cold days.
Here's the one I was going to use but decided I didn't need because it stays parked all winter.
Anyway, the remote filter adapter is a nice beefy part that moves the filter away from the headers.
http://www.cantonracingproducts.com/...ion&key=22-597
The remote filter mount allows me to use a larger Ford oil filter. They also sell one that uses Chevy filters if you prefer. I used to have my oil temp and pressure sensors in the remote filter adapter, but decided the data was more accurate coming off the engine block. But the remote adapter would be a good place for an accusump hookup.
http://www.cantonracingproducts.com/...ion&key=22-625
Finally, the oil cooler is a beast. It covers about half my radiator (then again so does the intercooler)... which kinda sucks because now I've got my oil temps under control, but my water temps will go up anytime I'm under boost for a long time. So I get maybe 2 laps at RFR before I have to take a cool-down lap to get the water temps back down. But that's better than before when my oil temps would get into the 270F range and never come down without parking the car.
http://www.summitracing.com/parts/FLD-DB-30120/
When I built this setup a few years ago, it probably cost around $600-$700. Prices seem to have gone up since then. Figure $800 for the adapters, cooler and lines... closer to $1000 if you're adding an oilstat. Which sounds expensive... until you consider this is the front line defense for your $6000+ motor, and any massive failure in the oil cooler system will bleed all the oil out of the motor faster than you can key it off. I'd stick with the quality parts/fittings/etc.
Also, it's imperative that you minimize the length of hose, number of fittings, and angles on fittings (use the straightest fittings possible). Getting the system as short, and straight as possible is best to maximize flow through the system. I had previous versions of my oil cooler setup that may have dropped my oil pressures and contributed to killing my motor in the past. The setup above seems to be working pretty well now though.
Here's to hoping this thread goes better than our last one on dry sumps!