Just dusted off the good old blender skills... err... lack of blender skills; and installed Photoshop Elements 6 again and got to work.
I'm mainly focusing on more user-friendly water-cooling. I hate to say it, but it's not worth all the hassle for me to go through the trouble of tracking down all the pieces of a water-cooling kit, and trying to drill out a few missing holes to stuff everything into my case, fill it with water, and hope it doesn't leak.
Here are some Blender renderings of my main submission - an external, all-in-one water cooling system:
http://i579.photobucket.com/albums/ss235/Mark3Website/e1render1.jpg
http://i579.photobucket.com/albums/ss235/Mark3Website/e1render2.jpg
http://i579.photobucket.com/albums/ss235/Mark3Website/e1render3.jpg
http://i579.photobucket.com/albums/ss235/Mark3Website/e1render4.jpg
http://i579.photobucket.com/albums/ss235/Mark3Website/e1render45jpg.jpg
http://i579.photobucket.com/albums/ss235/Mark3Website/e1WCS360.gif
I would have liked to put the .blend file on here, but I just can't find any decent file-hosting sites short of setting up my old gateway as a server. I apologize for the
extremely low quality of the GIF animation... I guess there's a reason some animators are free and others aren't.

I'm sure you can all tell that I'm not exactly a blender 'veteran'.
http://i579.photobucket.com/albums/ss235/Mark3Website/e1WCS-final2m.png
Zalman, you could make a
lot of profit from entering the water-cooling market. I'd definately buy this if you made it.
😀 The closest I've seen have been the two-bay 120mm water cooling systems that go in the 5.25" expansion bays. This would be a
lot nicer, for me at least, because the pump, radiator, reservoir, and electrical equipment are all in a little aluminum box the size of a fairly small printer, greatly reducing the risk of water-cooling related issues. It would also make installation and maintenance a lot easier, too, since all you have to do is fill it and run the tubes through your WCS ports on the back of the case and hook them up to any waterblocks you have.
If you could pull this off, you'd be able to make quite the profit off of it - I'm sure I can't be the only person who is looking for something similar to this.
Secondly, here's something that falls under the category of, "Wow, that's crazy, but might just work..."
http://i579.photobucket.com/albums/ss235/Mark3Website/hybrid.png
It's basically your typical heatsink/fan (fans aren't pictured; one 120mm can be mounted on either side if space allows), only with a water/coolant chamber going up the center, dividing it in half. The coolant chamber would disperse heat much faster than air, and six traditional heatpipes would do the job of a regular cooler. Basically, it's a TRUE with a copper/aluminum waterblock running right up the middle to the fins. If my logic is right, this should have a serious performance advantage over traditional heatsinks.
Here's another thing I'd really like to see:
http://i579.photobucket.com/albums/ss235/Mark3Website/onepiecewaterfinal2.png
I've been trying to find something like that for ages, and have since then given up. Once again, the closest anyone has come is the Corsair H50. I'd buy this, too, if you made it. And if it actually worked.
Lastly, I'm going to step away from the Enthusiest market for a while and suggest a much better HTPC/Server cooler than what is currently available on NewEgg:
http://i579.photobucket.com/albums/ss235/Mark3Website/HTPCSide.png
http://i579.photobucket.com/albums/ss235/Mark3Website/HTPCFront.png
And there you have it. Good luck to all the other contestants, too.