[Sephitrask]

The plugs for the rack are sitting on top of the rack, right behind/below the air box. IMO you should be fine as long as those are not drained on, it has been proven that they don't mix well with water. You could make some kind of cover for it, then it wouldn't influence your hood selection. I wouldn't worry to much about water in the bay, it is pretty exposed anyway, and many cars have vents without guards. For example, the Evo's rain guard didn't stop the water from falling into the exhaust manifold and turbo, it only blocks view into the engine compartment. (excluding the Evo x, I don't know about that)