Unfortunately, there are no "cheap mods" which can add a noticable power increase. Yes, there are mods which are somewhat low cost that can sometimes net small improvements, but big increases (the ones you really notice) come with spending bigger money.
As for the TB coolant bypass, I've never actually seen any chassis dyno results supporting a measurable improvement but, anecdotal evidence and theory support the idea that there might be a small improvement.
On the downside you'll get a slight driveabitly decrease during the early stages of warm-up and you open the possibllity of icing inside the TB under a combination of circumstances which are: temperature, dew point and humidity in the range required for icing and a cold TB typical of the early-to-late warm-up period. That said, unless you operate the car regularliy in near freezing temps, the chances of TB icing are fairly remote.