im not saying it would run out of water im just saying changing the heated water out and replacing it with cooler water.... theres no way around it the water does heat up and that just makes you loose power and defeats the purpose of the intercooler.... i really do believe there is no purpose in a water to air if the water inside is hotter than the air thats going through it... who knows maybe im wrong but u figure the warmer water would heat up the intake charge thus having the complete opposite affect of what the intercooler is designed for, to cool the intake charge...
even if im wrong i still say air to air because its low maintenance and way less comlicated.....