[RickyBobby]

Thanks for the tips. I finally got around to installing mine with some slight modifications to what you outlines above.
Same wiring as yours, but I routed the transponder inside the fender to keep it from the elements. I got it nicely tucked out of site this way. The signal has to pass through the undertray but I didnt' have any problems with this on my last car so I'm not expecting any issues here either. I'm glad I went the hard wired route. No more hassle of charging the unit and remembering to bring it to the track now.

Here are my pics.