For transferring heat, liquid is better, period. The only thing better than liquid is chilled liquid. CoolIT products do not use a radiator, but rather a patented technology called MTEC. By using MTEC technology, the liquid is actually refrigerated (using multiple TECSs or Peltiers) then used to cool even the hottest processors in today’s computing devices. The result is unparalleled overclockability, reduced system level noise and increased reliability. In addition to providing superior performance to water cooling, the CoolIT products are pre-plumbed, factory sealed and maintenance free allowing for very simple installation and worry-free.
Check it out: CoolIT Systems - Home
I have seen something like this, but for a laptop.
I can only imagine if one of those tubes leaks...