I've had this wc setup in my old pc for about a week, and the new pc for maybe another week. I use a certain compound to make the liquid UV reactive, and along with the UV cold cathodes on the inside of the pc, a good bright UV light helps me detect if there are any leaks. So far... none. The components came from a system that was watercooled for a while, so it's safe to say that apart from my new tubing every other component has been tested thoroughly. I don't consider the system unreliable or leaky. I think it will hold up for a long time without much "maintenance".
If your asking the question, it depends on the set-up, kit and experience of the person involved. Not ideal for a SFF LAN but then again! I would ask over in the Extreme cooling forum for more advice and pointers on this topic IF your not sure, you have answered your own question - stick with air cooling! Matt