I think Pete said an electric pump was worth about 12 hp savings. However, following his experience with an un-sensored electric pump failure w/o warning and consequent engine overheating damage, I'd not install one w/o a sensor to monitor pump operation and give warning if the pump failed.
Far as overheating in the 1/4 (under 13 seconds) drags or 1/2 mile WANNAGOFAST runway events (1-4 gears in ≈ 20ish sec.) I didn't have any heating issues when starting out at 200-205ºF.
(My bigger concern was stopping!!
)
If you were operating in a sustained 5500+rpm condition, that would be a concern, far as cavitation goes. However, parasitic drag losses occurring way before cavitation, would be invoking the need for under-drive pulleys (or the like).