are you planning to run 3x monitors or stereoscopic 3D? if your not then that is totally overkill. That rig would only make sense for a triple monitor or high res 3d setup. For a single 1080p monitor a single gtx680 paired with an i5 3570k is more than enough. For a first time builder I would recommend staying away from watercooling and multiple graphics cards, its more for advanced builders that have a lot of time to spend setting up and tweaking things. Just do your homework before you set it up, or get someone experienced to help you. Otherwise you could be well disappointed with the end result.
I agree with the previous poster that unless your an experienced system builder, air cooling is generally what you should go with. Even so , I would say air cooling unless you plan on some heavy overclocking.
Jhall1987, your Rig could destroy any game invented even in 3d Stereoscopic mode, if you dont plan to do heavy over clocking just stick with what you got, You could not really get better than this for a Desktop !