Mike, you really don't have to go to those extremes for cooling an H20 setup. I have two H20 rigs now - my primary HTPC in the theater room running a Reservateor Zalman setup, and a custom setup as my primary desktop.
the HTPC was for performance under pressure and the desktop was because my CPU is encased in my desk that has no ventilation. The hoses run out of the enclosure to a radiator exposed to the ambient air. Both are whisper quiet. The hard drives (Raid 1 Raptors) are now the loudest pieces (no big deal).
Keeping up with water levels is no big deal at all.
Make REAL sure there are no minute leaks in any of the hose connections.
Put a software CPU temp monitoring software on all PCs and centrally manage them with alerts. Cross check that central PC with another slave. I use the MLWMI plugin to do this in the MainLobby world. Homeseer has quite a few plugin choices that can do same. Don't know if CQC has written a PC monitor software yet, but Dean could easily do that.
I have triggers setup to shutdown an overheating PC before it gets critical. thankfully never had to try this out. Most Bios settings also can be set to kill the PC if things get toasty. Just not as graceful as a software based solution. I actually use both, with the bios one set for "real hot" and the software one for "getting real hot".
BTW, the MLWMI plugin also allows for remote booting of PCs if you want to watch a movie and don't keep that PC running 24x7 via a Wake On Lan message.
If you are using the PC for Video processing, look at H20 solutions as the CPU gets extended workout. If you are using it only for HA, then look at air cooled solutions like the Zantech case (real nice stuff). HA doesn't have high extended CPU periods but the fast processors are great for snappy performance when needed. 3.0Dual core is now at the good price / performance point.
H20 is more difficult than air cooled for PC maintenance. Takes twice as long to swap a component. And, you have to be Real sure no leaks, any time you move things around. But, great for moving the heat somewhere else.