Hey 8-Ball,
Here is a quote from an article I receltly wrote that might help explain things.
The maximum rated capacity of this TEC is 226 watts, which is referred to as the TEC’s Q-max and defines the maximum amount of heat the TEC can pump from one side to the other when the two sides are at the same temperature (0º differential temperature). In operation, the two opposing sides of a TEC will not be at the same temperature. As the differential temperature goes up, the TECs heat pumping ability will go down. A TEC should be sized so that its Qmax is approximately 2 or 3 times the expected heat output of the processor it is intended to cool. Based on this rule of thumb, the 226 watt TEC used in the MCW462-UHT should be able to cool a processor putting out between 75 watts and 113 watts of heat energy. But... there is more to this story than just Q-max.
There is a lot more TEC theory in the article if you are interested...
Swiftech MCW462-UHT Thermoelectric Cooler review @ Systemcooling.com
I hope that helps.