Need help deciding on water cooling?

I am looking at getting a new cooling system in my build. I was looking at doing water cooling or something to get the temperature significantly lower. My CPU idle speed on stock Fan/Heatsink is running at around 40 C. However, when I am converting DVD to AVI it reaches temperatures of 80+ and my computer shuts down as I have a program monitoring temperature that shuts the computer down immediately when it hits 80 so I don't know exactly how much higher it will go as I don't wanna go any higher than that. I guess the goal would be to keep it in the 60s while converting these DVD to AVI (I have like 600 more DVDs to convert). I was looking at getting this water cooling unit.

CORSAIR Cooling Hydro Series CWCH50-1 120mm High Performance CPU Cooler-
http://www.newegg.com/Product/ProductReview.aspx?Item=3...

Would this be substantial enough to keep me in the 60's if I were to do these conversions or overclock my system? Would I need to get anything separately with that water cooling unit other than some thermal paste maybe?? Do I need to change the fan out of that water cooling unit to maybe a push-pull fan? If a push pull fan is needed can someone please recommend me a decent one that is not extremely loud. My budget is prob. $115 (the water-cooling unit is $80).

Thanks!








My Computer Specs-

Motherboard- GIGABYTE GA-X58A-UD5
Tower- COOLER MASTER HAF 932
Processor- Intel Core i7-930 Bloomfield 2.8GHz
Power Supply- CORSAIR CMPSU-750TX 750W
Video Card- HIS H587F1GDG Radeon HD 5870
Ram- G.SKILL 6GB (3 x 2GB) 240-Pin DDR3 SDRAM DDR3 1600
SSD- Crucial RealSSD C300 CTFDDAC128MAG-1G1 2.5" 128GB SATA III
Hard Drive- Western Digital Caviar Green WD20EADS 2TB SATA 3.0Gb/s
Windows 7 64