One of the first stock-watercooled new-gen AMD GPUs has been announced, with Asetek now offering a liquid cooling system for Radeon HD 4870 cards. Factory-watercooled systems aren't new, but do make implementing liquid cooling much easier for someone who might not know what they are doing. Asetek's particular system is pretty slim looking, consuming only a single peripheral slot, thus making it easy and suitable for use in Crossfire systems.
Asetek is also playing up the low noise level of the system, an important consideration if you are bothered by some of the "leaf-blower" fans that a lot of high-end GPUs come with. Asetek specializes in exotic cooling systems and claims their stock system will lower GPU temp by 26 degrees.