I've seen a review showing the Ray Storm to be better
, I've used both and saw a couple degrees better temperatures with the Ray Storm. I don't think you'd notice the difference whichever you choose, just avoid the nickel plated EK blocks as they have a tendency to have their plating flake off.
That is a smidge under $300, you could then get some barbs, clamps and tubing. Will likely come in a little over $300. In my experience it can get expensive once you decide to play with compression fittings. I went that way and it got expensive fast at $20 a fitting. If you want to keep costs down, get barbs and clamps.
The reservoir is personal choice/what works best for you in your case. Maybe you'd prefer a bay reservoir, or a reservoir+pump all in one. Again from my experience, it's best to look at your case and decide how it will be best laid out before you buy and try to get a sense of what goes where and dimensions.
I spent probably $100 alone just accounting for initial mistakes I made in judging how I could set up my case. I also ended up having to dremel my case to account for tubing running from the bottom. I can't stress enough really getting it right in your head how you are going to lay out the loop before you buy everything.
At least buying a setup this way will allow you to expand it at a later date if you want to add GPU etc. I was tempted to get the EK block for the R4E because the VRMs get super hot and it limits overclocking, but I just did not want the headache of routing so many tubing runs around the CPU socket and the fittings it would necessitate.