Here's my take on your build. First off, this is based around your desire to "get into water cooling". IMO, an all-in-one water cooler is not "getting into water cooling" Most testing shows that they aren't any better than a high end air cooler, just quieter, sometimes. So this build is based around a custom loop. The nice part about a custom loop is that you can add to it or change it around as you change out parts.
PCPartPicker part list /
Price breakdown by merchant
CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor ($209.99 @ Amazon)
IMO, the extra money for an i7 isn't worth it for gaming/streaming. This one will do just fine when you don't have the extra money to burn.
Motherboard: Asus MAXIMUS VII FORMULA ATX LGA1150 Motherboard ($313.98 @ SuperBiiz)
The motherboard is your backbone, I never go cheap on MBs. This one has plenty of room for upgrades. It has an M.2, sata-express and wireless w/BT. It also has a built-in water cooler for the VRM. Asus got it right this time and went copper on the block (Z87 was aluminum).
Memory: GeIL EVO Veloce Series 16GB (2 x 8GB) DDR3-1866 Memory ($127.24 @ TigerDirect)
16GB-1866, enough said
Storage: Samsung 840 EVO 500GB 2.5" Solid State Drive ($250.38 @ Amazon)
I don't build anything above $800 without an SSD. Fast load times, 500GB, EVOs are perfect for this.
Storage: Hitachi Deskstar 7K2000 2TB 3.5" 7200RPM Internal Hard Drive ($73.49 @ Amazon)
Extra storage.
Video Card: Asus GeForce GTX 780 3GB DirectCU II Video Card (2-Way SLI) ($418.99 @ SuperBiiz)
Video Card: Asus GeForce GTX 780 3GB DirectCU II Video Card (2-Way SLI) ($418.99 @ SuperBiiz)
This one was a consolation for the added expense for the custom loop. The performance isn't that much lower than the TI's, definately not enough to justify the added $260
Case: Cooler Master HAF X ATX Full Tower Case ($149.99 @ Newegg)
I love this case. I'm currently using the same one for my build with custom loop. I'll say more down in the water cooling part.
Power Supply: Cooler Master Silent Pro M 1000W 80+ Bronze Certified Semi-Modular ATX Power Supply ($89.99 @ Newegg)
I'm using this PS as well. I've never had any problems with my CM PS's. 1000W, modular cables, single 12V rail.
Optical Drive: Lite-On iHAS124-14 DVD/CD Writer ($12.99 @ Newegg)
It's an optical, it's inexpensive.
Total: $2066.03
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-09-11 06:38 EDT-0400
Next up are the parts for the loop. All of these parts are from frozencpu.com. I have bought a lot of stuff from them and I like their customer service. You may be able to find some of the parts cheaper elsewhere.
Monsoon Series Two Premium D5 / MCP655 Dual Bay Reservoir w/Quick Change LED Control - Matte Black w/Red Trim (M2-D5P-RD) $99.99
You can get a cheaper reservoir, but I stand by this one. I'm using it in my HAF X now. The pump mounts to the back, it can support 2 seperate loops, it includes silver coated plugs to reduce baterial growth, the LEDs can be changed to one of 8 colors to match the case, 2 brightness levels and off, very easy to fill. I've had no vibration noise at all from my unit.
Alphacool VPP655 Variable Speed Pump w/ RPM Monitoring - Single Edition (13122) $89.95
Classic D5 pump. It has a 6 speed selector on the back. For $5 more, you could upgrade this to the PWM pump that would let you make speed changes on the fly. I use the PWM pump and it's fun to play around with, but once you find the right speed, you rarely change it. Coupled with the reservoir, I never hear a peep out of this pump.
Phobya G1/4 Thread 3/8" (10mm) ID FatBoy Barb - Vintage Matte Black (63341) x8 $23.92
Barbs, gotta have them to attach the hoses. There are all kinds of options for hose barbs. I use Monsoon compression fittings, but they are a lot more expensive (6 for about $50). These will definitely get you started though.
XSPC High Flex PVC Tubing - 3/8" ID (5/8"OD) - UV Red / Orange x6 $15.00
Tubing to move the water around. Just have to make sure it matches up with the fitting sizes
Phobya Reusable 5/8" OD Hose Clamp - Red (68252) x8 $18.00
Hose clamps to keep the hoses in place.
EK Supremacy EVO Universal CPU Liquid Cooling Block - Nickel CSQ (EK-Supremacy EVO - Nickel (Original CSQ)) $79.99
I don't use anything but EK blocks. This one works extremely well. I got lucky on the i7-4770K lottery and got one that will OC to 5.0 GHz, this block keeps it below the thermal ceiling.
Alphacool NexXxoS UT60 Full Copper Dual 120mm Radiator $76.99
This radiator will mount to the top of the HAF X case without needing to give up any 5.25" drive bays. A 360mm radiator will fit as well but it protrudes into the 5.25" drive bays. UT60s are really good radiators. Now if you want to do some case modding, I have a 400x200mm Phobya radiator mounted to the top of my HAF X. I had to cut the plastic piece on top and trim some of the sheet metal to get it to fit, but I think it turned out really good and it could easily cool a quad SLI setup w/processor.
Akasa 120mm x 25mm Apache Black Super Silent PWM Fan w/ Hydro Dynamic Bearings - Black x2 $31.90
Fans to push the air through the radiator. These are PWM fans and can be controlled from the PWM fan ports on the MB. I use bitfenix 230mm fand on my 400x200 radiator, they move a lot of air and are almost silent but they are about $30 each.
Subtotal: $435.74
This is just a get it up and going water cooling loop. But the great part is the ability to add to it down the road without having to replace the whole thing. You could add water blocks to the video cards, larger radiator, etc. My rig has the 4770K and 2x 7950 video cards on the loop. I can overclock the processor to 5.0 and the gpus to 1100/1600 and nothing overheats even under a concurrent full load on everything.
Lastly, I didn't price out the OS, but the total only comes to about $2500. If you are in school, as you stated, you can get Win 8 Pro from microsft for $60 by using your school email address. Just google Win 8 Student.
Just my .02 worth.