That is actually a pretty good kit, i have heard good stuff about that water block. The kit seems fairly decent, but man the price. I don't know if you care about the price, but you could assemble one way cheaper than that. Otherwise, if you don't want some "do it yourself" work go with a kit similar. I made my loop just the same as this, a water block, radiator, pump, tubing, res. My rig's water cooling only cost $100, but it involved some DIY.
If you want to DIY:XSPC Rasa Waterblock: $49Hose clamps:$4 Pump: $12Heater core: $30
Get tubing at any hardware store.
Just under $100