Dunno if anyone mentioned this but heatpipes only work when the heatsink it connects to is on the same level or higher. If anyone has a computer motherboard with northbridge heatpipe cooling with an upsidedown case mount they know. The northbridge will get extremely hot in that pc.
So if you stand the 360 vertically, the heatpipe addition won't do anything other than provide a little bit of heat dissipation from the copper. In fact, standing the 360 on the harddrive would provide the best cooling...........
Whyyyy couldn't they just make a short heatpipe into the fan shroud with the heatsink in there.
Heres hope that these revisions stop 3rod for people. My 2nd 360 is going strong

There are many types of heatpipe - these use capilary action (aka wick) not gravity to return the liquid.
The CPU heatpipe uses the same technology, if you look, the liquid needs to return to the base of the heatsink, so it needs to go around the 'U' bend and back UP vertically if the console is stood on it's side ...
Horizontal is best though - that way you get gravity assisted liquid flow on both the CPU and now the GPU as well (gas obviously doesn't have a problem going up hill..) ...