Asetek thinks that you can cool your CPU and GPU with water at the same time and that is what the company showed back at IDF.

We played with this OEM toy before, here, and we believe that this one will be quite successful. It can cool Core 2 Quad and Geforce 8800 GTX at the same time and it will be quiet at all times.

And lets not forget that Asetek managed to make the CPU cooler for Blackbird 002 from HP and we mentioned this here. This is just the first one and there will be more to come soon.