[Crusader]

I've not done a water cooling system, but I can tell you that it's really something you would want to do if you are running a very high-class machine that performs a lot of processes and generates some extensive heat. From what I've read, it's not that hard of a process, but you have inherit downsides such as a possible breach soaking and frying your system.

Look into the BTX form factor (ATX being current). This new PC layout design is setup for better cooling and circulation for fan-based units and will have a "wind tunnel" effect that is much more efficient.

If you're looking to keep your current system cooler, there are plenty of options out there (and cheaper) for fans. There are fans and heatsinks that dissipate heat much more efficiently than your stock components. I'd look into that myself.