ive build my own (4 total so far)
yes , some aquarium pumps are the same as the pc pumps and ussually 10-20% cheaper .. as for using fish tank water id say no ..(but you could put the radiator in the fish tank and eliminate its fan i bet )
i use a oil cooler or small heater core /motorcycle radiator .
set up a 1/2 gallon resevoir tank . and machine my own heat sinks .. i use only distilled water and a pint of water wetter .. but its not really worth the hassle to build them anymore as for you can get a good h2o set up for under 120.00 .
Remember you still need airflow thru your case to keep other stuff cool though
( AE MB buss , caps, hd's, video card , cd burner ect )
condensation was a small problem here .. but ive learned to leave the heat (65 F )on in my pc room at work and havent had any problems for 2+ yrs .
the best trick is to route the cpu hoses away and down then out the lowest corner of the case and down again that lets any condensation run down the hose and away from the criticals ... my cpu block never condensates but my hoses have befor especially when ive got the res in the Ice chest and going for the crazy extreame Over clocks .