Wow, Tomshardware actually has a good article!

[Deadbent]

Check it out.
http://www.tomshardware.com/2006/06/12/your_diy_gaming_rig_for_720/

How to build a beefed 4ghz dual core rig for gaming and etc, from $720.00 - $1,200 bucks.
Watercooling included.

I was actually impressed with this article, normally going to tomshardware for non biased information is like going to best buy to buy vinyl LP's.
It just can't happen.

[VirusInNH]

Excellent article, seems like a good idea for the processor but other components like memory and video card (especially in the $720 rig) may still slow down some of the newer games on the market. I'm still very hesitant to run water tubes through a big expensive electrical device.