"It aint redneck if it works"

I think I'd spin your heater around 90* to keep it from warping your pool.
There's that, plus I don't know that I would want that warm exhaust air blowing at me.

I could do the math (maybe), as there's two heat exchanges going on here (air to air, and air to water), but like Derek on VGG says, "If it works, it is really a dumb idea?"