Regards to the CPU cooling: Heretic is correct, you don't *need* watercooling. Water cooled is just as good cooling wise as a good air cooler (water may be slightly better depending) and takes less space in the case and (maybe, I don't know about this one though..) maybe less noise. I've only had aircoolers on my PC's. Currently on a 4670k using a Noctua NH-D14 cooler and I'm very pleased with it, but at this point I don't have the CPU overclocked.

Intel i5 4670K | Noctua NH-D14 | NZXT Tempest | Gigabyte GA-Z87X-D3H | 8GB DDR3-1600 Crusial Ballistix | Asus GTX570 DC-II | 2 x WD 500GB | Corsair HX1000W | 22”+18.5" Samsung | TrackIR 4 | HOTAS Warthog | G25 | W7 x64 Ultimate