I'd rather get a smaller CPU cooler then. There are plenty to pick from and you don't need all that much of an OC these days. Your gpu card will work fine in the x8 lane btw.
Yes I know it will work on the x8 lane, but I plan to keep this computer for 5-6 years and the only thing I will replace is the gpu in a couple of years. So, by that time, I guess the newer GPUs will take full advantage of the pcie 3.0 x16 lane. So, with that in mind, I will RMA this cooler and get it's smaller brother, the PH-TC14CS_RD, or the Cooler master hyper 212. Until my replacement comes, I will take off this huge brick and put in the stock intel cooler and not overclock. Can i take off the thermal paste with rubbing alcohol compound 70%?