Yes, water is better, but that doesn't mean you should get it. A $34 212 EVO will perform perfectly well for almost all applications (what are your full specs?).
I'm not sure about specs but im currently building an Asrock Extreme7 with Intel i7 2600k plus 2 GTX570's. I'm looking to put in some wack cooling and at the absolute best maybe get an overclock of 5GHz but realistically maybe 4.6-4.8