The main point comes down to whether your PC is over-heating or making a lot of noise? Or you just want a Water Cooling solution to show off? Look, that might sound rude, but even I wanted a water cooling kit for my build a couple of months back and even I asked about the confusion in several forums and the best answer I could find was "Unless there is a lot of noise or your PC is overheating, there is no reason to buy a water cooling soution, again unless you want to show off."
I chose to buy the Cooler Master Hyper 212X. I'm literally happy with the temps and the noise level is very low. But if you are building/upgrading for looks and have the budget then might as well go the water cooling way. I'm not giving a biased...