I hardly consider watercooling as "terrible" for expensive systems. Regardless of your quality components, you must be absolutely careful. It's not like an expensive system is more proned to damage than a cheap one. As gaara said, you should be leak-testing for at least four hours or so (I'd go as far as 24 hours just to be safe). Beyond that, no leaks should begin appearing. For those that have had immediate leak issues and lost parts to it, that's a simple lack of responsibility. Simply put, don't be that guy.
Originally posted by 003
Go with watercooling. It wil badly beat any air cooling setup, and it's virtually silent.
Virtually silent? Do you even have a watercooling setup? My system became about 3 times as loud as it was without my watercooling rig. You do have to keep your rad cool. It's not like heat just magically goes away. And if you get the MCP-650, jeez, has a ridiculously distinct whining noise. It's obnoxious to be honest, but it's usually killed by other fans. Point is, don't think that watercooling will immediately make your system silent. That's a common misconception.
Well...if you move your computer a lot, then you'll be in for a treat with watercooling. Keep in mind that water does weigh something and will make your case a good load heavier. Obviously not good for travel.
Simply put, watercooling should be your decision if you're looking for top performance at a reasonable cost. The downside to watercooling is that there is a good load of maintainance and work that goes into setting up such a system. However, DO NOT think that it is impossible and that you will end up with a broken system like some moron that others earlier described. Again, as gaara said, you can make a flawless system as long as you're careful and are sure to leak-test (and of course take the other necessary precautions).