There are both good air and closed loop coolers (CLCs). As far as cooling, itself, the best of the air and CLCs rival eachother in efficiency.
The problem with the big air coolers is that they often weigh over 1 kg and some weigh in at over 2 kg. Big air coolers put stress on motherboards, which are not designed (reinforced) for the torquing force of 1 + kg placed on the surround for the CPU. While the resulting effects are seen only over a long period (if there is not sudden failure) they take their toll on motherboards.
CLCs and smaller air coolers (which don't rival their big brothers or CLCs in efficiency) don't place comparable stress on motherboards. CLCs tend to be more expensive. If you are not doing overclocking then small air coolers will do.
I always replace the stock Intel coolers as they are among the worst at cooling. For small air coolers, I restrict the heatsinks to under 500 g and generally use 92 mm fans. For overclocking I prefer the CLCs.
With the 3770K I recommend a good CLC.
Here's a discussion on CLC vs. high end air cooling:
http://www.overclock.net/t/1260241/high-end-air-cooling-vs-closed-loop-water-cooling
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