Yes, it helps with cooling.
At low speeds or sitting in traffic, the air is blown over the engine then UNDER it.
With the back end of the hood propped up like that, the air has a little better time exiting out the top.
At speed, like TTT said, you get a positive pressure area built up at the bottom of the windshield.
Contrary to what others have said, there is no danger of getting decapitated.
If anyone has seen FC's in a bad front end collision, the hood is designed to fold.
The rear hinges are designed to keep the hood (rear) corners down and not shear.
There are no hooks that keep the rear of the hood down - some other cars have this hook assist.
The hinges have the sole responsibility to keep the hood from taking your head off.
I do NOT recommend replacing the stock hood hinges - now THAT'S a BAD idea.
Now the bad part...
Thieves can hook your hood release cable and pop your hood open without getting inside the car.
The stock route of the hood release cable is right on top of the driver's side fender.
It's very easy to grab the hood release cable and pull real hard - viola, hood opens.
Honda thieves do this all the time down here.
-Ted
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