Well not if you build it from different manufactuers products... then you sometimes need to have tube resizers. And making your own waterblock is also very difficult, but mine is working perfect.
I can probably tell you all you want to know about peltiers, here are some basics:
Peltiers are not coolers, they are just heat pump without moving parts. A peltier can move a certain maximum of heat called Qmax, if you want to cool a CPU with a peltier you need a Qmax of atleast 80W, preferably high in the hundreds (150W or something). The peltier can create a max deltaT (difference between the hot and cold side) of 65-70C if you have the following situation: you have absolute zero heat input (Q=0 W), the voltage is a Vmax and the amperage is a Imax. This setup is tottally useless in normal use, under a lod of about 80W, peltiers with a Qmkax of more then 100W will have a deltaT of about 30C if your lucky.
But a peltier is more then a heat pump, it also adds more heat to the hot side when pumping heat. If you got a 150W peltier and you are supplying 80W of heat to the cold side, you will get a heat output at the hot side between 160-230W (depending on the peltier efficiency).
You need to cool the hot side with a very good cooler to get reasonable temps, which means that you always need watercooling for peltiers cooling CPUs. Say you got a watercooler with a heat transporting coefficient of 0.1 C/W (at each watt the temp will increase 0.1C above ambient/water temp). With 160W heat you will get a Thot increase of 16C above ambient, making it 36C if the ambient is 20C. This will result in a CPU temp of 6C with a deltaT of 30C. If you got some really kick ass watercooling you can have a heat transporting coefficient of 0.05 C/W, which can result in below ambient temps on full CPU load.
Always keep the Thot below 100C, otherwise the solder inside the TEC may melt.
Oh and now something aboput powering a peltier (TEC): most peltiers requiere a voltage between 15-24V DC and an amperage of 8-15A. You will need a very good (and often expensive) special powersupply to feed a peltier.
My dual-PSU PC is so powerfull that the neighbourhood dimms when I turn it on