A tranny cooler will have virtually zero effect on radiator efficiency but mounting a tranny cooler out of the airflow or behind the condenser and/or rad, will lower the efficiency of the tranny cooler as much as 40%, according to the instructions that came with the B&M cooler.

I havent seen temps above 200 and that is in 90 degree alabama weather...

Yep, if u mount a dedicated efan with the tranny cooler, u can mount the cooler just about anywhere with good results

So, I dont neccesarily have to have the cooler in the radiator vicinity.. the only reason I might do that is because of the rad tranny cooler..

However, I suppose I could just run a longer line from the radiator cooler to the tranny coolers location and have a small, lower cfm fan mounted on it.

Yep, Weou09 had posted previously that he mounted it underneath with an efan.

Where would you mount it underneath though? And, if its closer to the tranny, do I have to use the cooler built into the rad?

No I have a dedicated cooler and it has helped keep the temps down on the water because there is less ambient heat around the radiator.

Ill try to get some pics of it...just kinda hard because my wife works night and I work evening so we are rarely in the same place and she has the car. Oh mine is also a 2wd so I don't have 4wd parts so I might have a little more room to work with that most of you...