Actually it's on air, ~50c at full load on a AC Freezer 64 which I got new for $20 from the egg but I'll be changing it in the near future. As for water, I had watercooling for like 2yrs back in 02-03 and even tho it was slightly cooler, for now I will stay with my quiet air setup but I do need a slightly better CFM fan for the cooler tho,