Dear .p.jm:
Yes. You could moderate the humidity in the room from as low a dew point as "40 deg F" (give or take) to as high as you wanted. And still cool the room, and filter the air.
Might be a bad thing to hear running water in the night though... makes some people have to pee. ;>)
In fact you could do this all in an enclosed chamber, spray the water "across" a forced air stream, and distribute the flow through the house. No air filters required, but you would have to treat (or refresh/blowdown) the water. If you were removing water from the air, like in Virginia or Florida, you'd also need a sewer connection (or send it to the yard).
David A. Smith