I would like to know how this turns out, I am have a American pale going right now. Bittered with citra and did additions of zythos @ 15, 10, 5 and dry hopping with zythos.
Essentially, it's sounds like using a herms coil type setup. A member of our club uses his coil to serve dual roles, he fills his HLT up with ice water and regulates the flow through the coil for his system.
I have a stc-100, controlling mine as well. Think I may hang mine as well, and add a PC fan blowing aross to move the heat in the chamber. I built a Frankenstein side-by-side utilizing the freezer for a 3 tap kegerator and fridge side for my ferm.