I strapped a 156W peltier to my MC-462A air cooled heatsink. About half the price of a First Class Water system (read not a cheap beginners rig). It did a good job handling the pelt, but I relied upon the clamping force of the mount to also supply the clamping force for the pelt sandwiched in between. This is not the correct setup for a peltier. It needs considerably more clamping pressure between the cold plate, it and the HS than the HS needs to the core.
I like my MC462A, but would prefer to water cool. One day I might, when I can come up with the dough to buy the best. Namely, Danger Den new design block, cooling cube, 250-500gph inline pump, push-pull fans and quality reservoir. Or, as time permits, I will go the opposite route and kludge up from my own design. The reason I will not use water cooling is not because I'm afraid of water inside my PC. These systems are safe, assuming you have a lick of sense installing them. The only drawback to using air cooling that approaches water cooling performance is the amount of air flow required to achieve it (read loud).