This thread is really going off onto different tangents.
Chilled water - now you are dealing with sub ambient and dewpoint accumulation, if cold enough. You also no longer want radiators because it is counter productive.
AIO pumps and expanding to 'custom loops' - Again, pricing is the reason why custom loops are where they are in the market, you are also getting what you pay for. Pumps are far, far more powerful. Radiators are brass and copper, not aluminum. Blocks are made of pure copper and acrylic and other materials and better performing. So, there's a big jump in quality and performance.
Adding additional radiators - radiators are some of the least restrictive components in a cooling loop, but AIO pumps are still very low pressure and flow, so overall, the coolant flow is going to be just a trickle of fluid, just keep that in mind.
No one is saying you can't do it - just have realistic expectations if you do. Also, the results are not going to indicate the same results you would see in a full custom loop, and I think there is understanding there - although you'd be surprised how many people miss this aspect.
Mineral oil - not as great as a submersive coolant as you think, but the Puget Systems thing still draws a lot of attention. You really need flow within the oil to make this beneficial as oil that does not move, stagnates and creates hot spots. Oil flow means a pump, pumps use o-rings and mineral oil degrades most rubber products. Even if you are providing pump and oil flow, you need a heat exchanger (radiator) and we're back to watercooling, just differently than a normal cooling loop.
Also, oil is much less thermally conductive than water or water-based coolants. This is why your car engine has coolant to cool it and the oil is not - it is primarily used to ease friction and act as a thermal medium so that combustion heat can get transferred to the cooling jackets. Think of engine oil as thermal paste and the cooling system as a liquid cooler (because it is).
Also, mineral oil soaks PCB so it is impossible to get it out if you need to change components, let alone sell them to a secondhand buyer. Thermal compound under heatsinks like north/south bridge or even chipset cooling breaks down, making those heatsinks less effective due to lack of thermal paste. Oil can create hotspots here, also.