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I'm sorry but that looks awful. Take that lettering off ASAP, the quicker you do it, the better off you will be. But then again, everyone else seems to like it so who am I to say anything.
I'm generally not a fan of side lettering, but I think that looks nice on that particular turbo.
Of course if it said, "Coochas" in Carrera-script across the side it would be totally cool.