water cooling

It was used in the 60's and 70's to cool mainframe computers. It has really never been used in PC's for mainstream use, some unusual techniques have been developed and marketed.

You would be much better off using a Peltier cooling fan, which acts as a refrigerator.

If you really want to do it go to a search engine and search for water cooling, it will show you some of the esoteric tools people have developed.

http://www.techimo.com/articles/i221.html

I've been "wet" for about a year now. Have had no problems at all with this rig. Went with water because I live in the desert southwest and in summer it is normal to have outside temps of 115+. My P4 idles at 32 celsius when the room temp is about 36c. Under load the hottest it has gotten is 43c.
It's not for everyone, but it works for me!
BTW remember it will void any warranty U might have on yer parts