What makes pelts attractive is how small and convenient they are. No compressor needed etc. But of course, they'll either draw as much power as phase change for far inferior performance, or draw significantly more power than a straight water setup for not much more performance. He has slick setups going, but overall they're not too practical...sort of a shame because such setups are pretty nice to look at.
Edit- the 4 pelts might very well be needed...he's cooling an i7 970 at well over 4ghz.