Hardware Canucks posted an in-depth review of the new Cooler Master Hydra 8800 Hybrid GPU Cooler.
A quote from the article:
Cooler Master Hydra 8800 Hybrid GPU Cooler Review
With the Hydra, Cooler Master looks to be offering the best of both worlds: it has a fan for air cooling while there are a pair of nozzels for water cooling. According to Cooler Master you can use either air OR water cooling or both at the same time to lower your temperatures even more. This is quite unique but at about $70-$80USD, this cooler does represent a significant investment considering it is very close in price to a number of popular GPU water blocks.
Cooler Master Hydra 8800 Hybrid GPU Cooler Review