Hybrid is a term generally applied to systems that provide water cooling to the GPU, but leave VRM / memory cooling to air cooling. They suffer from the same faults as all CLC type coolers.
-Excessive noise
-Cheap aluminum radiators
-Low flow pumps
Hybrid / CLC solution
EVGA 1080 Hybrid - $570
Kraken X62 - $160
Total $730
Real water cooling solution *
Swiftech H240 X2 - $150
MSI Seahawk 1080 X w/ EK Full cover water block - $540
3' Extra tube and fittings - $26
Total $716
* "real" being used to refer to actual long proven, custom loop components pre-assembled for you at the factory
-10 times the flow rate (1.0 gpm is generally accepted minimum)
-copper versus aluminum rads for higher thermal efficiency...