memize: Sorry to hear about the fried components. I can understand your excitement and corresponding rush to get your wc system up and running, but rushing anything usually leads to failure...
When I first setup my K6-2 350 for direct-die cooling, I was in such a rush (and not thinking clearly, due to my excitement) that I didn't remove the 'water block' from the processor before drilling a second outlet--I didn't want to wait another 24h for the silicone to cure.
Of course, the drillbit didn't 'drill' so much as it 'screwed' it's way through, and drove right into the core, badly wounding it. It will run at 150MHz now, though, if I feed it 3.5V.
There is good news though (always look for the silver lining
): I can pretty well guarantee the memory of this will keep you from rushing something in the future and accidentally causing similar problems. (I doubt that makes you feel any better, though.)
Also, is the video card absolutely fried? Where did water get on it? Sometimes you can get temporary shorts from minerals in the water that dry on/bond to the card, and can be cleaned up with isopropyl and a q-tip.