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Yep, it'lll work. You'll get performance somewhere between a bong and a normal radiator. If you use distilled water in the bong section, that would get rid of the mineral buildup problems.
Well water is likely to have quite a lot of dissolved minerals - look inside your kettle to see how much mineral build up you are likely to get. If there isn't any you won't have any problems.

Also, you may well be able to make it much more compact than a standard bong - the vast majority of the performance benefit will come from the water evaporating on the radiator, not in the bong section.