Insulation when using peltier

Hey guys,

If I am going to use a Thermaltake Aquarius2 water cooling system with a peltier between WaterBlock and CPU will I need to insulate :

1. At all?
2. Just around the socket and the back of the motherboard?
3. Around the socket, motherboard and WaterBlock

I am sure I will not get any amazing temperatures in my waterblock? Do you only need to use insulation on hoses and WaterBlock when you are using a water chiller? Do you think I will get condensation on waterblock considering I wont be very cold due to low end water cooling?

Maybe test out your setup before hooking it up and see if any frost or condensation forms. At least thats what I would do.