The first thing I have to say is that it was disappointing to find the card came in with the stock clocks. It just seemed like such a waste to go down the water cooling route and then turn around and offer the default clocks. What you end up doing is testing the performance of the card and feeling a bit empty. The thing is, though, when you finally come to the point to check the temperatures out and really knuckle down and get the volume of the card, you see the true benefit behind the ZONE series of cards.
The other thing is with the new Nitro overclocking tool coming out soon from ZOTAC, you will be able to turn around and overclock all those important bits on the fly, which is great. It's easier to turn around and overclock a card then it is to setup water cooling; sure it would have been nice if both were offered out of the box, but it's not the end of the world.
The other thing is that the kind of user who buys a water cooled card is probably going to be a bit more computer savvy and will be able to overclock the card themselves. We've seen some pretty ordinary water cooling solutions, but the kit that ZOTAC uses is not only quiet, but also very efficient.
This is a good stepping stone for ZOTAC when it comes to entering the water cooling market; let's hope that they choose to strap the cooler onto something faster like the GTX 280 while taking the time to increase the clocks as well.