Water has nearly an endless capacity compared to phase, but it certainly doesn't get as cold either
Before shelling out massive $$$ for an LS or Mach II, I'd wait and really see what the
OCZ Cryo-Z is all about.
1) It's cheap...supposedly coming in at $350ish, but might drop as low as $200 if sales are there (according to OCZ)...that's as cheap as a WC setup.
2) It's only 1/6HP compressor so it's not as good as an LS/Mach II/custom, but it won't be as hard on the electric bill either.
3) Confirmed the gas in the test setup is straight R507, not R134a or a blend.
4) It uses a Chilly1 evap = none better.
I've seen claimed temps as low as -50C idle (@ 68F amb) and am leery of some of the initial load temps that they have mentioned. Capacity seems too good to be true, but they certainly weren't using any kind of "laboratory grade" testing (CPU in a mobo + monitoring software). In other words, it's probably not as good as it shows (which should be the case).
Anyway, it could definitely be a decent option for the price of water or not a bunch more, but by all accounts, it won't/can't be as extreme as LS/Mach II/custom phase units because of the small comp. What it will be is very cheap and cheap to run.
Oh, I recently figured out how much my phase unit cost to run 12-15 hours/day every day. It was $8-$10/month using a 1/3HP comp...1/6HP on the Cryo would be about half of that, but my cost/KWH is cheap out here. Cali is about 2x as much.