Yes, distilled water is the best coolant. The additives are to prevent corrosion and bacterial growth. The ideal is to run the highest percentage of water you can without maintenance hassles.
I've never tried it, but people say that Water Wetter has a very strong and unpleasant odor. If you want to go this route, I suggest you try one of the other racing coolants. If you just want to reduce surface tension, try a few drops of Jet-Dry.
Whatever you use to prevent corrosion (if anything) be sure to poison any bacteria, fungi, or algae that might have found their way into your loop. Iodine should take care of the bacteria and fungi, and aquarium algaecide should do for the algae.