Hmm one thing though, get a special low tox anti-freeze coolant, the ones you put in cars....... that does a **** of a job transferring the heat from the cpu to the radiator/heatcore......
and the answer is yes, even if your w/c kit is one of the lower ends one it will still be better in many means from any other highest-end aircooling, heres afew:
A. the waterblock is tiny, compared to the space that a big typhoon would catch in ur case and its easier to install [and dont tell me that the tubes takes more space than a big typhoon cause they are flexible and you can arrange them ---the big typhoon is not so adjustable lol]
B. Noise!! Big diffrence between the most silent air cooling and water cooling.... you'll NOT hear the diffrenece, no wait yes you will but you wont hear any noise with watercooling =) [unless you bought a really really really lame pump for a nickel].
C. Power consumption, no need for a 5+ 120mm fans anymore just to move more air so that ur cpu will be cooler or the chipset or w/e.
D. Looks much better.. uv reactive or not you'll be way more respected in any community if you show you'r water -cooled rig than if you showed youre zalman cnps 9500 cooled rig
Theres more but you get my point