Modded coolit eco a.l.c for both gpu and cpu

Hi guys.

Just got my hands on a used gtx295 with its original air-cooler but the previous owner had it on water..so the water-block is up for grabs  
I was thinking of modding my coolit eco with some extra tube,fittings and an extra fan on the radiator so that both gpu and cpu can benefit from water-cooling.
Do you think that the pump can handle both?
And if it does, is there gonna be a significant temperature drop on the gpu?

My cpu is a phenom 965 and i do not intend to overclock it. Just want things stock,cool and quiet