> The Cray supercomputer were fluid cooled back in the 1980's, the entire 
    > board had an inert liquid flowing across it.
You can still do this with any computer, by the way: just submerge the entire board in motor oil. Slightly smelly and might make a mess, but absolutely workable.

Mineral oil is the usual substance used, as its clear and non smelling.

Are pretty much all surface mounted components fine with this?

I wanted to waterproof a micro devboard by submerging it in mineral oil. I was worried the board may delaminate or components would turn to goop