It depends on what you mean by efficient. Using the least amount of water possible? Yes. Very efficient. How about cooling as fast as possible? No. Not very.
There's a sweet spot between how much water you use vs. how much time it takes to chill and I think 3/8" is a pretty good middle ground. 1/2" is even better if you don't mind using more water for the fastest possible chill down.
1/4" is nice if you split the flow into three separate paths, but it's a slightly more complicated build.
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