Force air under the car = upforce. Force air over the car = downforce.
As John says, the big benefit here is limiting the amount of air that comes through the the front end of the car. Stock the Z has a hole between the core support and the front valance, the core support and the hood, and holes on both sides of the core support. It's safe to say that more air gets into the engine compartment than goes through the radiator, and also that whatever gets in has to go out the bottom of the car, unless you have hood vents, and I don't think the 280 vents will evacuate all the air that comes in through all the holes either. When the air is forced under the car, you get lift. As a side benefit, the top of the hood is a low pressure area so air coming out of a vent or a radiator duct will get SUCKED out which should improve cooling. I don't know the specifics, but I've read of race cars with radiator fins removed to allow freer air flow. That might change the dynamics a bit and cause a ramped exhaust from the radiator like blueovalz and 74_5.0L_Z have to create more downforce than they otherwise would.