it's possible, I honestly can't tell you off the top of my head since I don't have personal experience with the Monsta (and am too tired to do the math/physics to figure it out atm).
at any rate, a high rpm fan would completely destroy the noise benefit of going with water cooling. and you already have the equivalent of a 360 Monsta in the first configuration, the added surface area of the first configuration is actually bigger which would cool your components better (assuming you have enough pump power to run the whole thing)