Neat idea, some drawbacks, like needing a lot of water. Crower's history is more interesting than his engine.
Interesting idea, but I believe more in the progress of ceramic coatings ... no cooling required ... at all! Or perhaps a mix of the 2.
BMW's been working on a different steam solution... http://www.popsci.com/popsci/automotivetech/163cf51b6fd89010vgnvcm1000004eecbccdrcrd.html
It still requires gasoline, and it requires water, too...if you read the article, it states that it may require as much water as gas. Water, heavier than gas.