If you did want a mini-itx watercooled build, this is a suitable option.
PCPartPicker part list:
http://pcpartpicker.com/p/ICJ4
Price breakdown by merchant: http://pcpartpicker.com/p/ICJ4/by_merchant/
Benchmarks: http://pcpartpicker.com/p/ICJ4/benchmarks/
CPU: Intel Core i5-3570K 3.4GHz Quad-Core Processor ($189.99 @ Microcenter)
CPU Cooler: Thermaltake Water 2.0 Pro 81.3 CFM Liquid CPU Cooler ($49.99 @ Newegg)
Motherboard: Gigabyte GA-Z77N-WIFI Mini ITX LGA1155 Motherboard ($118.98 @ SuperBiiz)
Memory: Patriot Viper 3 8GB (2 x 4GB) DDR3-1600 Memory ($49.99 @ Amazon)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($72.04 @ Outlet PC)
Video Card: Sapphire Radeon HD 7870 XT 2GB Video Card ($234.99 @ Newegg)
Case: BitFenix Prodigy (Red) Mini ITX Tower Case ($89.98 @ Outlet PC)
Power Supply: Corsair Builder 500W 80 PLUS Bronze Certified ATX12V Power Supply ($39.99 @ Newegg)
Total: $845.95
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-03-09 18:08 EST-0500)