Kortex, don't worry about Shabba, it's an oddity in the WC world to use peltiers. It still is out there, no worries.
You want Air cooling for a cpu at under $70? Go air cooling. Other wise read................
Building a WC system isn't that hard. Read a few weeks to learn the lingo and what most systems like yours need for watercooling ans start to participate as youyou build your parts list, it isn't rocket science at all.
WC is more expensive, double if not 2.5 the cost. And 4x the setup time. And 10x to learn before you go WC. But it's really pretty basic. Decide what needs cooled, like ram, haha no need. How much rad and what type of rad do you need to cool xx amount of heat. Only 2-3 pump picks, that's easy. Bit more dealing with flow rates and case setup, thats it.
Shabba is elite or wants to be, forget the post he made. Woot, an E8400, dual core etc. He's on the verge of being obsolete already.
Here is a buttload of links, my paste and cut for almost a year now. Read, become a member, have fun, learn. Don't rush. Read the last 20-50 posts on OC Forums, every single one from start to finish, get bored? Too bad, ya gotta learn.
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For your benefit please spend a few days reading a LOT. At the busiest places for WC masters. Guys who have done it for YEARS at OC forums and xtreme forums. It took me a while (I was OCing on air, aftermarket stuff, bios settings, best chipsets etc etc) to learn the language and the tricks to a easy install.
Don't expect miracles or SUPER DOOPER over clocks. What you will get is a quiet system that can handle OC to the max of your hardware IF you buy quality and buy smart. And minor maintenance too, a bonus for the water cooler.
Also while there please read on case mods etc. The radiators are not for small cases, pumps and hose routing, wire management and other things are important. Google your planned case and the word water-cooled in one line. You might get lucky.
IF you just cool your CPU and your NB if you want, you can get by with a 120.2 sized radiator (RAD). And MAYBE fit in inside depending on your mod skillz. You want to cool your GPU too, you'll need a 120.3 sized rad, and it probably won't fit inside. The rear external rad really works great. No matter what your adding 15lbs to your PC, maybe 20lbs.
Once you got an idea of what is good/bad then start getting your system for WC put together and we'll be glad to help.
http://www.xtremesystems.org/forums/index.php? Not a noob site, but great stickies
http://www.ocforums.com/ My fav, good peeps, know their stuff, less hardcore
http://www.skinneelabs.com/MartinsLiquidLab/
http://www.over-clock.com/ivb/inde [...] opic=20277 A GREAT Europe site
http://www.overclock.net/water-cooling/
http://translate.google.com/transl [...] n&ie=UTF-8 Info on rad testing
http://skinneelabs.com/
Stores
http://www.dangerden.com/index.php [...] e&Itemid=1
http://www.petrastechshop.com/
http://www.sidewindercomputers.com/
http://www.jab-tech.com/