I've been talkin to MIK3 about dipping all the components of a system in some film and then completely submerging it in water to make the ultimate cooling system. The problems are I am not sure what kind of film to use, I don't have spare systems I can test this on, and if any part of it gets scratched off the water fries it.

The reason why hard drives die if you open them is because no matter how hard you try to filter the air that goes into it, some foreign particles enter the casing. When the platters spin, the will move the air around them and for these particles to start hitting the heads. These heads are not made strong enough to be able to survive this for very long because they are designed to move back and forth very fast (they need to be light).

well after running it for a few days, wont the liquid get heated up as well and not be able to dissipate heat as fast as cpu generates it

so shouldnt it use a pump and a radiator to dissipate the heat?

You are exactly right. If you use a fountain or something, that would dissipate tons of heat. You'd lose some of the liquid, however, so you'd need to have a line coming in.

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I was thinking... maybe if one were to attach a fridge or mini fridge piping syetm to it, that might do the trick. Maybe even run a water cooling pump and rad off it? (in and out i mean)
later boys,

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barton 2500@2300MHz
9700 A-I-W
512 (333)@400MHz
2x10Krpm 36.7GB Raptors