Yeah, the transformer had a lot to do with it. The pump is AC, and there is a lead directly from the power supply to the pump for it. Read my previous post for the why of it.
As for the liquid-cooled power supply being a waste, that is not neceassarily true. It is VERY quiet - and there are environments where that is a huge plus (i.e. a recording studio). The simple truth is that you can buy a Koolance without the liquid-cooled power supply if the 'quiet' aspect is less important to you. The better quality air-cooled power supplies are more than capable of cooling themselves, you get one more "link" for cooling components (Koolance does not recommend more than 3 liquid-cooled components), and you get a potentialy more powerful power supply that can be replaced with a bigger unit as needed as opposed to being stuck with the liquid cooled one.
The 80mm blow hole on the back of the case is a bow to the hardware enthusiast. If you want the extra airflow in the case - you have a spot for the fan. As for the components being tubed in serial - it's really not much of an issue. The video card tends to get better cooling from the water thats "hot" from the CPU then it does from the puny heatsinks and fans that tend to be placed on them. Really, take a look at what comes standard for cooling on these video cards. . . The water moves quickly enough that it does not get so hot as to inefficiently cool most video cards. I HAVE a Koolance case right here (at work), a liquid-cooled power supply, CPU, Video Card unit running on an Abit KT7A RAID mainboard w/Athlon 1GHz/266, 32M GeForce2 MX, 512M PC133 RAM, 2x20GHD (RAID 0 Stripe), 16x Pioneer DVDROM, 12x10x32x Lite-On CDRW, SBLive! Value, 10/100 PCI NIC, Hollywood+ DVD Decoder, and 3.5" floppy - and the liquid temperature remains a fairly constant 93 degrees F (Koolance temperature gauge - Mobo Monitor 5 reports CPU as 98 deg F) and is nearly silent to boot.