Not really a budget in mind, Nothing made of gold. Brand new to OC never have done I should have listed Processor Iy 2700k 3.5M thinking of a good 4.0 for OC. Purchased parts and built Rig 3 weeks ago Newegg.... Probably not O/C the GPU'S the 580 SLI'S Stock are doing more then I need them too.
Water cooling is completely unnecessary for a Sandy Bridge processor unless you are going for very high clocks 24/7. A budget $30 air cooler like the Coolermaster Hyper 212 + / 212 Evo can get you to ~4.5Ghz very easily and safely. Unless you plan on adding a third GTX 580 you will not need 5Ghz so there is no need for water. Unless you just want to spend more money.
^ This is correct. Watercooling isn't really necessary on most modern CPUs unless they will be heavily overclocked. GPU temps on the other hand can greatly benefit from watercooling, when done correctly.
Watercooling is much more of a hobby than an actual cooling solution for most people. That being said, I've watercooled for 9+ years and will continue to do so simply because it's addictive, different and performs well for my needs.