Thats great... Although i do not have the money to spend on a set up like that right now it is exactly what i had in mind...
On a cheaper note and design one could make one of these pretty easy with two fans, one large (heat) heat-sink and one smaller (cool) heat-sink and a Peltier sandwiched in between... Witch is what these are but they are fairly expensive to buy pre built... Probably a $50 set up at most if you DIY...
Add a thermostat and you have a fairly effective and inexpensive ac setup...
But the setup you detailed here would be optimal for hid cooling IMHO... =]