Do I need a water cooled system?

WC is not needed unless you need it to be DEAD silent or are overclocking to EXTREME speeds or if you have a huge wad of cash in your pocket that cannot possibly be spent anywhere else.

Air-Cooled setups can be very quiet and OC to great heights, as well.

My personal opinion.

~Ibrahim~

Thanks for confirming what I had suspected. This is my first self-built system and figure I'll have enough bumps in the road to overcome without needing to introduce setting up the cooling system. Once it's up and running and I decide to try and OC the system, then perhaps I can do it later as an upgrade!

Excellent and good luck with your build!

~Ibrahim~