Wouldn't it just be better to just add 1-2 more radiators in parallel (if you have room)?
You would lower the flow resistance in that part of the circuit(one thing you aimed for) and it would also slow the flow down by half in each of the rads (another thing it looked like you were aiming for) alowing a longer time for the water to be in the rad to be cooled down.
I would think that having a bypass line would just give you higher temps. Only part of the water is now being cooled by the rad and the bypass allows warmer water back into the waterblock.
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