This is what worked (very well) for me:
I have 1 120mm fan directly above my Alpha/Peltier cpu-cooler. The fan of the alpha is set to suck, which is then re-inforced by the huge 120 mm fan which also sucks OUTward, creating a windtunnel of hot air being evacuated from my case.
Below that, I have a card cooler sitting behind a second blowhole, which enables it to suck cold air from the outside without obstruction and blow it across my Geforce 2.
Result: P3-700 rock stable at 966 MHz/138 fsb, at DEFAULT voltage of 1.65 V, and running at 100% stress (SETI plus several apps) at 75 deg F.
My system specs:
P3-700 @ 966/136, default VCore
Alpha 6035/Leufkens 55W Peltier with own modification (custom Copper Cold Plate)
256 MB CAS2 PC133 sdram
Hercules Prophet 2 64
MSI 6309 MoBo
SB Live
20 GB 7200 rpm IBM HD.
Case photo available via e-mail on request
pvanosta@netscape.net