Newbie Question to water Chiller

I just purchased this unit which I am going to add to my existing watercooling setup. My question is how do you introduce this to the system? The cylinder type unit with the hoses comes out has me a little confused. Is that the resevoir, where this unit would just be introduced into the loop like removeing the radiator and running this in its place. Or do I need a separate res...... just trying to figure out how you install this as I really never looked at chiller projects too much.

Thats an odd lookin system-

where is the evaporator (part that gets cold) ?

Is it the grey thing???

Either way, you need to immerse the evaporator in your water. you may need an external res.

Remember to insulate like crazy if you dont want condensation.