Wheeler Dealers and Jay Leno's garage both had pieces on waterless coolant. It seems like a really good way to prevent overheating problems. You must COMPLETELY drain a cooling system before installing this stuff. Does anyone know how to do this? Is it enough to drain the radiator and the engine block? Does anyone have detailed instructions?

I'm going to run it on the hot rod/ dragster I'm building for all the reasons you saw but mostly since it does not create any system pressure...no expansion, no overflow. So, for me, there is no treating of a "wet" system to prep for the new coolant. For you, they have an alcohol based intermediate step that will remove any water left in your cooling system after your initial drain. It must be near 100% void of H2. Your probably looking at $175 + in material costs with coolant included.
Dave