That is an exceptionally vague question, I can't work out what you mean. I'm learning about them at present, started a thread here which may be of interest.
Are you getting at the cpu wattage is too high to deal with using a single peltier? If so you're pretty much correct, but you can just use multiple peltiers. ?
Not "not good enough" just pointless. When they were fashionable, there wasn't such a thing as phase and water-cooling was nowhere near as good as it is now. On top of that, a peltier system needs exceptional cooling making it nigh on as expensive as doing it properly with phase-change.
Remember you need to cool the component, plus each tec. TECs are also hideously inefficient.
Remember you need to cool the component, plus each tec. TECs are also hideously inefficient.
Yeah, you only need to cool the hot side of the TEC, but you need to remove what ever heat the CPU is having sucked out of it by the TEC, plus the heat generated by the TEC itself, as JonJ678 not only do you need to remove the 200W from an overclocked CPU, but the 300 or so W that the TEC generates in maintaining the delta T across it's faces. 500W is a lot of power to dispose of in a watercooling setup.
You sandwich the TEC between the CPU and waterblock - making sure the cold side is on the CPU side.

TECs draw heat from one side to the other, you stack TECs ontop of each other to cool the hot side of each down to put it simply, but as said above you need watercooling/phase to remove the heat from the last TEC, your waterblock will be attached to this by some kind of custom made bracket.
what kind of OC are you aiming for? if its not majorly serious then stick with a good water setup.
This has issues as well of course, namely that I seem to need an extra quad radiator and a psu which doesn't flinch at 57A @12V constant draw.
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lol i know the perfect psu for 56A @ 12V
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Nb/sb peltier is a ridiculous notion in most senses, what makes you think that's a good idea?

WeeScott had a lot of success with a room temperature (20C) aquarium chiller. It actually makes a huge amount of sense to chill the water but not to the extent that condensation becomes a problem. Plus one good water chiller can handle multiple loops or even multiple rigs.
I built a TEC chiller recently, see here (different username on that forum)
http://www.xtremesystems.org/forums/showthread.php?t=230755
It uses 2 high power (437watt) peltiers but running at around 6 volts max each to optimise CoP
Now I have an i7 920 and it keeps that at around 50 degC at 4.2 Ghz under full load (LinX etc)
Pity my motherboard has a BCLK wall at 215Its not the CPU, that went all the way to 224 on an EVGA board I tried it in
