a typical chipset really doesnt get hot enough to warrant using a waterblock to cool it. my chipset fan crapped out, so ive been using just the bare heatsink and its working just fine (as far as i can tell).
as for the CPUs, id still run them in parrallel. this way cool water will go to both CPUs. about the temps, the temp probes could be calibrated differently, or something like that.
if you put all those blocks in series, it would probably cut your flowrate way down.
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