Personally I wouldn't say there is much point in water cooling unless you are going to overclock. I can see from that spec your a gamer/3d designer, unless you wouldn't have spent £300 on a GFX card.
You need to make sure fresh cool air gets to the cpu fan. Eg. An intake fan blasting at the CPU from the side of the case. You don't need that much thermal paste, but with a dual/quad core you should run a small thin line across the CPU/heatsink. dont go overboard. Sigle core CPU's should be a small dollop in the middle.
Not sure about images in these forums, so if this doesn't appear use the link below to see what I've done.
[img]
http://img482.imageshack.us/img482/9999/untitledxd0.jpg[/img]
http://img482.imageshack.us/img482/9999/untitledxd0.jpg
The intake fan in the top left is now in the side of the case feeding air directly above the CPU.
I'm running a Core2Quad Q6600, on an ASUS P5K Mobo, with a lowly nVidia 6800, and I have been getting temps of 27°C (motherboard) & 32°C (CPU) when Idling, 31°C (mobo) & 42°C(Max) under heavy load. This is using stock CPU heatsink and fan, and in summer, but I suggest paying out for a decent fan/heatsink combo. Somthing like this:
http://www.scan.co.uk/Products/Produ...oductID=500678 as it can be positioned to direct heat directly towards an exhaust fan, and has good dissipation.
You could also benefit from some Arctic Silver heatpaste if you think intel are a little stingy on the amount they dish out. You'll probably want to have an equal intake/exhaust fan combo, but If like me you have a dual fan PSU you'll prob want an extra intake as you could get overheating probs.
Another thing that helps, is good cabling. You'll need good circulation, and theres no point having dusty fans that are blocked by things which render it useless
Unsolved 
