Yes, you are correct. My reason to make an AC chiller is more or less just for fun. I may not use it in my main system but just want to make one to toy with. I have 3 PC's and a bunch of scrap water cooling gear. I figure the chances of me making a chiller that is better then what I have is limited. It may be cooler but won't be as quiet or as compact. I should add, it has not rained in Seattle for almost 40 days (or so not too sure) until today. It was 95 in my appt. for at least the whole previous week as most places here have no AC. The weeks before that it has also been in the 80's. This means my appt. is always around the high 80's to low 90's.
I just picked up a couple of waterblocks for my VGA and NB chipset. Once I add those my temps will likely go up. As long as they stay within a reasonable range (say 20 C) I will probably keep my setup as is. I bought two cheap blocks from Xoxide today. they are for a Gforce card, but I am hoping I can drill through the plastic and mount each as I need to. The flow pattern is not too restrictive (maybe a little) but at $10 each It's no loss if they don't work. Here is a link to the site where I found them. And I know you pay for what you get so if they don't work I am out $20. Plus the shipping.
I just posted my setup in the chiller gallery. Take a look but go easy when you see my pump placement!!
http://www.xoxide.com/xaqgef4bloc.html