OP, you can try modding a CPU cooler to your graphics card, and slapping on a really quiet 120mm fan on it. That should definitely be quiet and cheaper than going custom loop water cooling.
Materials needed for mod: H80i or H60i or H100i, Two #6-32 Machine nuts (your standard machine nut for your standard machine screw - what you use for a lot of your radiator fan screws), and a drill.
As you can see, i use copper heatsinks and thermal tape over the VRM's and VRAM, and i used the stock AMD mounting bracket but drilled new holes to match the PCB holes of the graphics card to mount it. All the other stuff can be found stock (it comes with your AIO cooler if you buy H60i/H80i/H100i)
This has been the cheapest solution for me to have quiet, but still powerful cooling for both my graphics cards. You should hear my computer on load
Its actually so quiet, its literally the same as my idle....
So literally all you need to buy is the two machine nuts and a drill? *(unless you already own one)
Also, you can add a VRM fan if you want. You dont need to. From experience the difference is probably like 10C and as long as you have good case flow you sometimes dont need to have a direct fan. You will need one more extra #6-32 machine nut and maybe a stock fan screw for this addition to your mod.Edited by Aesthethc - 6/25/13 at 5:29am