But I don't know why you'd want to void your warranty by getting rid of the tubing, which is Teflon lined to prevent evaporation of the coolant (remember, this is a closed system, never to be opened, so the coolant has to stay inside and not evaporate through the tubing) and very expensive itself, or put a reservoir in line, essentially doubling that component since the system already has a built-in reservoir.
Also, forget the changing the cpu block as the unit's cpu block has the pump integrated into it.
If you're going to start changing this system around, just go buy separate components from Jab-Tech or Sidewinder or Petra's or wherever and forget this unit.
If, on the other hand, you can resist voiding your warranty and use it as intended, it'll work as well as most mid-to-upper end air coolers and be quieter at the same time.