Indeed Les, that is what I meant, and that is also what I understood bobo to be referring to, where "k" is the surface temperature delta divided by the water temperature delta, with delta being relative to the entry temperature of the water.
I always considered such an interesting curiosity for purposes of analysis, but by no means the be-all/end-all of assessing cooling effectiveness. I see it being used most often in micro-channel/micro-jet research papers where they're playing with pitiful flow rates and so achieving a "perfect" transferrence ratio is therefore of critical importance.
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