I guess this was going to be inevitable sooner or later. A report over at Softpedia indicates that both eVGA and ZOTAC are planning to launch water-cooled versions of the now flagship graphics card, NVIDIA's GTX 295.
Details are scarce and we're not sure if this means if these cards will come with dedicated closed loop solutions or factory-fitted water blocks to be connected to a third party kit. It can, however be expected that the cards will come with significantly increased clock speeds as a reward for running this superior (but undoubtedly more expensive) form of cooling.
We'll likely see these cards show up around the time CeBIT takes off on March 3rd.