I would of thought, and correct me if i'm wrong, but wouldn't it be easier to just buy and plug in a 1.6 CPU if your board can take it. They can't be that expensive now. If not then just buy a new MOBO and 1.6 CPU or better...
I havn't really a clue about prices, but i would of thought that buying all that water cooling, heatsinks, fans etc, shoving it all in with fingers crossed would cost quite a bit....
I might be completely wrong here on prices, but im sure someone will correct me...
Just my 2 shillings worth...