Maybe YOU should submit it to a cooling company!
It's out there...
Asetek VapoChill Case Cooler
"The VapoChill Case Cooler is an air condition system developed for direct - cooling of mission critical PC and entry level servers."
An A/C for your PC. The thing's as big as a mid-tower, but I imagine it could be shrunk a bit. Maybe to the size of a SFF case like an Icecube or the Aria.
My thoughts are somewhat like yours though. I feel that cooling should be a much larger picture than what the industry is making of it. What's currently being done is the old stuff made bigger. Nothing new is really being made, and the steps are lateral more than it is forward. HS/F's made bigger, fins placed here, a fan added there...it's like putting fuel injection on a Model-T!
I think cooling should be broken down into the component level. The system as a whole should be cooled, but I find the above A/C a generic answer to a real problem. Folks like Asus and Abit kind of get it by placing HS's on the power reg, but not really doing it right. Asus has a heatsink on little more than half of the power reg circuitry (8 of the 12?). Abit goes about this with the brute force method with ducted cooling. Then, back to Asus, they try a Stack Cool plate on the back of the CPU area to wick heat. This is still a big area and not small enough IMO.
A board should be thermaly imaged, and each spot dealt with. Each little transistor that's hot, should get a wick. We also have 6-layer board tech, and they try and get the layers down to cut cost. So, make one whole layer a wick or device that deals with heat. Then move to other components and micro-manage each heat element. The tech is there, and it's actually getting old...but they need to at least try it once!
I thought I was on to something, and it just isn't being accepted. It was micro-tube cooling that made no noise and is very effecient. Just for the cpu, there is a layer of 100's of tubes crossing the IHS. Then you have a simple central device that gives the water and the tubing alternate charges and the water flows through these tubes to wick the heat. ScreenSavers on TechTV even had a working demo a year or so ago on air. More surface area could be achieved with it, it was built in...it just goes on and on, but was a huge advance that could be used for any device. If standardized, there's no need for all these fans and ancient methods. It could be made large enough to cool a whole board, and small enough to have a 2-tube setup to cool each micro-cap you may see on the back of the CPU. I don't understand the market out there, but to have this running a PC in dead silence would be the cure-all I thought.
Thorrn Micro Technologies and Purdue are both developing Microscale Ion Driven Air Flow which creates air flow through microscale heat sinks. The results are showing 1/10th the size of conventional methods with the same results.