What goes 'around comes around' the large mainframes of the early 1970's used water cooling and what a plumbers nightmare that was.
No reason why not though for a fixed installation. You'll probably have to make all the fittings yourself though, also the heat transfer calculations flowrate/device temp. need to be done which may be the only drawback as the pipework maybe large plus a cooling tank needs to be fitted. I think I may have some calculations for large water-cooled transmitters in some old books which may be able to be scaled down.
Interesting project, go for it, you may have a niche market for it.
I looked into water cooling my AMD,and read thru several sites.This put me off due to the precautions (remove CPU,and fill the underside of its mounting with silicon)and several other dire warnings were mentioned(condensation problems,etc)Its only neccessary if your into extreme OC'ing.Modern Heatsinks/fans are almost able to match the water-cooling performance,WITHOUT the worries of water ingress into a pc.
As with anything you get what you pay for, there are some very good water cooling kits out there that will surpass the performance of your conventional air cooling system and there are bad, as for the previous post they are bulky and they "can" leak but this is all down to how they are installed and the quality of the components, and if you dont know what you are doing and things go wrong you cant blame the system for not working for your lack of knowledge. They are not noisy far more quiet than air cooling and more efficient. Best thing you can do is to do your research and I do believe that micromart did an article on watercooling last week in their magazine it may be worth checking that out, hope you get on ok mate
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