2720 EU/t reactor with 0 heat and 0 cool down....
I'm very new to this reactor stuff but in 5 mins I had a design that output 1200 EU/t and then by the 15 min mark I had it up to 2720 EU/t... 0 Core Heat and a total output of 1,088,000,000 EU over the 5 and a half hours for its run time.
There is 0 cool down time and infinite cycles. the efficiency is only 4.86 but I think its worth it when you realize that you would need 1,088 MFSU's to hold all the power generated.
If you want to have a look at my design then here it is....
http://www.talonfiremage.pwp.blueyonder.co.uk/v3/reactorplanner.html
Condensators have a charge and need to be replenished (very frequently on a high EU design) using redstone/lapis. They are possible but they are not 0 cooldown since you are effectively taking cells out and replacing them for the cooldown.
To see this go to the condensator information page, and see that you are using a redstone every 3 seconds and a lapis every 8. This means you would have to pipe out these cells, replace (or have extra cells to buffer) and then place the old ones back in when needed again.
To tie this into the OP, as a reactor by itself it is positively unsafe. I would recommend surrounding with some material that absorbs nuclear explosions