You can get voltage reg sinks for these, so this isn't a complete loss.
I have Personaly seen nothing but issues with them,
What issues are there with universal blocks? I've been using universal GPU blocks for over 8 years...never had a single issue. If there are issues, I'm betting there are specific reasons for those issues...or good alternatives. Just because they don't cover the voltage regs, MOSFETs or RAM isn't a valid reason to say they suck...it's all about application and knowing what needs to be cooled.
RAM on a GPU doesn't get incredibly hot...I'd still recommend RAMsinks on them, regardless, but they aren't going to burn up because you 'only' have RAMsinks...all you need is moderately good case airflow to begin with...If your case has that poor of airflow to begin with, your GPU would burn up regardless of what cooler you ran. Stop and think about it for a minute....
Sorry, but without some specifics on why universal blocks are so bad, I can continue to shoot holes in your recommendations all day long.