Corrosion would be my main worry as well.
Lets assuem it's not a problem, you run into the issue of channeling the water. Water is such a good thermal conductor that you don't need that massive of a surface area to pull the heat off the CPU. The large amounts of pins, and the over all size of the surface area SHOULD generate some good tubulance to the water, and also no impact flow all that much. If you figure you're average US WC system runs on 1/2" ID tubing, Its almost liek you would be dumping the coolant into a reservior that happened to have a bunch of pins in it. Allot of volume there. Flow restriction wouldn't be my worry at all. Desingined the block to make good use of that volume would be. Simply jetting the water over the top, and having an outlet, may work, but you may end up with a "dead spot" or two on your block. I think if you went for a three barbed aproach, and used a jet directly over the center, it might work. I would try opening up the middle area bit though, perhaps cutting down the pins in the center to you have less restriction there so the water can hit the basplplate with some force.