For inspiration's sake, I recommend this site:
http://www.zerofanzone.co.uk/
No fans whatsoever. Watercooling the following:
-PSU
-northbridge
-video card
-HDD
The design is pretty unique, but there's enough info to "keep going". There's still room for improvement.
I for one intend to, and I will certainly keep the reliability factor in mind. Now if I could only find a quick-disconnect fitting that would fit at the end of a 5 1/4 bay...