its worth it but i dont think it is for daily driving.
The added weight and complexity is usually too much hassle. Usually they are great where space saving in the engine bay is a concern.
They work and work well in cold ambient temps but it also has to do with how efficient your heat exchanger is.
Go for it if you want to be different but remember being different costs a bit more money.
Water to air IC US$400-$500
intercooler piping $60-$100
Plumbing $75-200 (depending on what you use i.e. rubber hose and brass hose barb fittings will cost less than braided)
Heat exchanger (some times known as the radiator, i find that motor bike ones work well...if you can find one with a flat core) $100-$???
Pump $120-$140 (Get a Jabsco unit...end of story)
Resivuar $75-$150 (Depends on the size and what not.....usually a 3gallon fuel cell with no interior anitslosh foam works well)
Electronics (relays, switches, wires, solder, heat shrik, etc.) $30
Have fun..take pix 8)