Both setups will use a defunct Hitachi Dual Xeon pedestal server chassis. Pictures will follow. Quite identical to the Intel SC5200 pedestal server. The depth is good. This guy mounts his radiator inside.
I'll start will both mods on the chassis first and decide which to go first. I am firm on what is needed for the water setup though.
Outline:
General.
1. Convert both chassis power supplies(450W, Delta) from dual redundant to single ATX standard, Seasonic.
2. Cut the cover for window.
3. Convert 6 SCSI hot swap bay to 6 SATA hot swap bay using Intel AXX6SATADB cage.
4. Lighting will be only in white LED.
5. For the water cooled setup, the 120mm fans will be replaced with low speed units.
Water setup.
1. Motherboard is Asus DSGC-DW with dual Quad Core Xeons.
2. So far only Apogee GT or EKWaterblock is compatible with Xeons.
3. Plan to water cool the 8GB of FBDIMMs as well together will all heatsinked parts with water blocks.
4. Teflon steel braided hoses only for that industrial look. And banjo joints will be used for right angles.
5. Reservoir will be a oil catch tank styled from turbo car with level indicator.
6. A large car radiator will be used and mounted on the non windowed side. This is will not be using forced air cooling for the radiator. Need a 1m width radiator. Water will be cross flowed. Enter from the bottom on one end and up the other end.
7. Only transparent item will be flow indicators, entry into the radiator and exit from the pump.
8. Water will flow to the components from a large distribution pipe. This ensures that all the components should get first hand cooled water from the radiator than pre-warmed water from other components.
That's huge case ... nice project bro! 
eager to see more!
Linear Mode
21 OCZ Fans!
