Aaah, I didn't know about sealing the CPU, good thing you pointed that out.
My plan is before i start spending money to modify the case, is to put the hardware in a plastic container filled with the oil and make sure it's stable, if all goes well then i'll start working on it. Course, I will take pictures along the way.
I'll put a fan into the oil and monitor it's rpm change when it's out of the oil and in the oil... see what happens.
Also will have to seal the power supply from the oil... power supply will be blowing in air so it will end up sucking in dust. Can't submurge the power supply since it will be at the top of the case and the CD drive and hard drive have to be mounted at the top of the case.