Watercooling is a VERY effective way of removing heat, although its a pain up the bum to install, is pretty high maintenance, and if it fails, can be catastropic. The only way to have H2O is a reasonably expensive model, as poor quality components that fail, usually will screw your PC, or if not lead to overheating. The best way is to get the best air-cooling solution you can afford, something like the Scythe Ninja, or a Zalman solution which are cheaper, lower mainenance and less likely to fail. But if money is of less of an object and youre Overclocking to ****, then get water!
P.S. Yes, when you say "I have a Watercooled PC" it feels GREAT!