Pros: silent, low temps, cheap
Total time to complete: 1H
benifits: a gpu that idles at sub 30c and load temps below 50c. Almost completely silent. Potential for higher overclocks
For those who do not know of The Mod its the name given to a gpu that has had a Closed loop cpu cooler attached to it via custom bracket or using simple zipstraps to attach the cooler to the gpu. Corsair and Antec both have great units for this mod. The most popular is the Antec 620 as they are often on sale for under $50 and have long flexable hoses. Long hoses give more options to where you can mount the rad.
There are clubs for both nvidia and ati cards in the cooling section here on OCN.
Both of these clubs will are great starts for those who are interested in this type of cooling. Its very simple to do and does not take alot of time. The costs are far lower than typical watercooling and there is no maintance as these are closed loop coolers. two sizes of zipstraps are needed. Large ones about 6" and shorter, thinner ones about 4" in lenght. You can use the paste on the cooler but if you have your own TIM you can also use that.
I am running this mod on one of the most expensive graphics cards you can buy and I have total confidence in its reliability. My lows are 17c and highs of 48c. I have oc my 580gtx to 1027core from 1010 using stock cooling. The best part is my gpu is almost completely silent now.
Its the best thing to happen to a gpu. Also there are other members here how have expanded on the idea and are now making cheap custom brackets that can be purchased and shipped in an envolope right to your door.
I give this mod a 11/10