Right about the size thing. The Caselabs cases give you room for full custom water with big rads. Even their ITX case is on the large size. If your going air or even closed loop; you can definitely get a lot smaller. I don't think anything else on the market comes close to their build quality. If that is important.
Yeah, but, well... I managed to stuff a full watercooling setup in an ITX bitfenix prodigy with a dual slot graphics card and a sound card. (mini pcie can be used for so many thing.)
Ahh well. It's already on the way, so I'll try it and see if I don't jump back in horror when I open the box. :P