Well it looks a lot better with a decent fan or two ... the stock one for the H50 lets it down a bit.
With a better fan ... or two ... it sits up there with the best of the air coolers.http://www.legitreviews.com/article/1025/6/
It should be a good cooling proposition for a fairly hefty overclock.
Note there are much better and pricier water cooling rigs out there.
The last page of the review pretty much sums up the advantages of the H50.
I hope this helps.
Like all water coolers there is a risk of a leak ... but this one looks quite simple to install and will work efficiently and quietly ... no fuss.