http://www.emaxasp.com/a-pro/details.asp?item=GYCP101

Somebody try it and post how good it is.

Main site link http://www.a-pro.com/

Copper Radiator
Aluminum Sink
Magnetic Pump
Weight : 485g
Operating Temp : -10oc
Storage Temp : -20oc
Thermal Resistance : 0.18oc/W
Fan size : 60x60x10mm
Air Flow : 26.56cfm
5000rpm, 36dBa, 0.52A
This is a rather interesting water cooling concept for Pentium 4 processors as it works without external pipes or pump. It is touted to setup as easy as an normal air cooler but performs like a water cooler.

It doesn't have any more finning than a large air cooled block - and appears to be using thermosyphon to get the heat from the contact plate up to the fins.
IMHO, the advantage of water cooling is that you can route the heat away from the die and into something that has lots more fin surface than an air cooled block (or into something that uses evaporative cooling).