Scythe SCNJ-1000 Ninja vs. Zalman Reserator?

[CraiginNJ]

The Scythe SCNJ-1000 Ninja looks like it'd be almost silent when a 120mm fan is used at something like 7v or even less. But how does it compare to Zalman Reserator (with its submersable pump)?

Would the Reserator result in a noticably quieter PC system while keeping the CPU as cool or cooler? (If not, it probably wouldn't be worth the extra challenges & risks of water cooling, right?)

I'm guessing a Reserator-cooled system might need only half as much case fan ventilation, so maybe it'd be the winner, but by a noticable amount? (Assume the video card is already silently passively cooled, so the Reserator solution might get by with less case fan ventilation ... or even with very little if hooked up to Reserator plumbing.)