MSI has a liquid cooled R600, Radeon HD 2900XT card. The card has three water blocks and a big radiator and fan and gets clocked to a default 740 MHz

The card runs cool and there is definitely some room for overclocking. We don’t know what will be the final speed of the card but the card should be ready in July time.  

The water cooled card was powered with non water cooled card and it works well in Crossfire on MSI P35 Platinum motherboard and only 750W PSU.