HI all
Paparazi is spot on as far as Thermodynamics are concerned, and for this reason he get a star from me.
But what about Aerodynamics?!
I assume as a minimum you will put a mobo inside the case, then a HDD and a CD drive then you need to run ribbons from your drives to the mobo (Wireless technology for drives is not affordable yet). Therefore creating barriers for your airflow and because you are rushing the air in and out again there will be some parts inside the case that will be starved of cool air.
The other properties of fast airflow are boundary layer (the area of dead air between the surface of an object and the flowing air) and turbulence (partial vacuum). The faster the air flows the thicker the boundary layer. This layer will act as an insulator and will not allow any heat exchanges. Air come in fast flies over the boundary layer without cooling anything and then it is shoved out again.
The best solution is minimum fans and not the maximum. AMD suggests no intake fans and I quite agree with them. Air needs to gently travel around inside the case and come in contact with all components including diodes, resistors, capacitors etc to be able to take away their heat other wise local hot spots would be created.
I have deliberately avoided repeating what Paparazi has already posted.
I personally prefer using no intake fan, 2 exhaust fans (including PSU fan) and heat sinks rather than fans as much as I can for internal heat exchange eg on HDD, North Bridge and video chips This way will also not have the head ache of if HDD cooling fans packing up, taking the HDD out with it as well. In hot climates just add some ventilation holes on to for the trap heat to escape and add some more slots to the bottom for extra air to enter.
Lastly, Use metal legs connecting mobo (every connection possible) to the chassis, so using it as a heat exchanger for the mobo.