I think an oil based system has potential:
http://www.pugetsystems.com/submerged.php
Oil Cooling
Moderators: NeilBlanchard, Ralf Hutter, sthayashi, Lawrence Lee
Solid-State PSU Cooling: Beyond the Pail!
viewtopic.php?p=15948#15948
viewtopic.php?t=26334&highlight=oil
viewtopic.php?t=28267&highlight=oil
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fun to experiment with but not really practical IMHO. plus you have to keep the hard drive open to the air, and HDDs are a major source of noise unless you use 2.5".
viewtopic.php?p=15948#15948
viewtopic.php?t=26334&highlight=oil
viewtopic.php?t=28267&highlight=oil
viewtopic.php?t=21990&highlight=oil
fun to experiment with but not really practical IMHO. plus you have to keep the hard drive open to the air, and HDDs are a major source of noise unless you use 2.5".