Holy **** where do I start...I don't want to say this but. It seems as if you just choose the best looking parts that cost a lot.
It worked on some things though, such as the PSU which is HIGHLY recommended and the Monitor is very good....however the other parts not so much.
The Case is great and everything but for that price Thermaltake Armor and Cooler Master Stackers are usually recommended as they are kwon for great cooling. Yet That looks like a nice case and NZXT make good cases so you can go with that.
The motherboard however...eh. The 975 chipset isn't thought of worth the money and actually for overclocking the 965 chipset is better. I recommend a P5B Deluxe or even a P5B-E. Yet the board is opk...and if you WANT to spent 100 more than you need to go ahead.
Next, do NOT get the E6700, get an E6600. The 6700 is not worth the extra money and pretty much all enthusiasts agree. The extra multiplier is not worth 200+ bucks. Actually the E6700 is a worse overclocker as well becuase the extra multi stops you from reaching a higher FSB, which is what you really want.
I see you have one WD Raptor however...Two Seagate 7200.10's in RAID 0 will just about equal performance but give you quadruple the amount of space for the same price. I Highly recommend doing that over a single Raptor.
The memory....Corsair may have been known before as amazing memory and everything but they have slipped. Their XMS2 line is just overall not good and defiantly not worth the price. I don't know why you are only getting one gig but for that much with the XMS2...you can get 2 gigs of G.Skill ram which is Much better. This model of ram I am recommending is one of the most highly revered ram modules for overclockers and enthusiast alike. Corsair XMS2 however, has not been recommended forever that I know of in the general community. This is the ram model that I HIGHLY suggest you pick up. It's not only BETTER but theres two gigs there, and for not much more.
Newegg.com - G.SKILL 2GB (2 x 1GB) 240-Pin DDR2 SDRAM DDR2 800 (PC2 6400) Dual Channel Kit Desktop Memory - Retail
The soundcard....is very good but it is a showcase becuase of it's looks. For the money this is better.
Newegg.com - Creative 70SB046A00000 7.1 Channels 24-bit 192KHz PCI Interface Sound Blaster X-Fi XtremeGamer Fatal1ty Professional Series - Retail
However...the Razer is a good soundcard, overpriced or not and it does look good. Those two will perform and sound around the same but that Razer is sick looking. You could grab either one.
The keyboard however...is overpriced heavily. I have never heard it once on enthusiast forums. Everyone on those forums has this keyboard as it's amazing..I thought this one was expensive >.<
Newegg.com - Logitech G15 Gaming Keyboard - Retail
The Death Adder is a good mouse anyway so I wouldn't have changed anything.
I'm not to sure about that water cooling system...i've always known the TT 120 air cooler to be just as good if not sometimes better than most water cooling. I'm not the one to ask about that though.
I may have bashed your build and it's not to say it wouldn't be good if you bought that right now but The Parts I have suggested come from the reviews and thoughts of the biggest hardware Enthusiasts such as myself.