Listen.. I haven't read this whole thread.. but the best water cooling setup out there is the one YOU put together yourself. With a bit of reading and hands on.. you can set up a really good water cooling setup for minimum dollars.
First things first..
Get a good water block.. these you need to buy pre-made.. unless you are handy in the workshop. They usually cost 40 to 80 dollars (USD) depending on the quality and design and .. yadda yadda..
Next would be the water pump.. You want something that is going to put atleast 300GPH through.. unless your water block is specified for a low rate of water flow.
Tubing is importent.. haha.. anyway.. Go down to your local home depot.. or lowes or whatever.. If you are really worried about a tube break.. get the double walled clear PVC tubing.. it's real thick and has a white mesh running through it.. cost around 50 to 70 cents a foot.. THAT TUBING WILL NOT BREAK ON YOU.. It's spec'd for 200 to 300 PSI.. which is far more then you will be running.
use metal hose clamps on EVERY possible connections.. I CANNOT stress this enough.. as when you put a hose on a fitting.. the hose will expand over time.. getting bigger.. allowing for leaks and or the blow off of the tube. Using metal hose clamps and a good screw driver or power drill and clamping them real tight will save you a lot of hassle.
The radiator is a real fun part

If you want something that is nice cheap.. yet efficient.. go to your local Kmart or wal-mart .. and get a small box fan.. I mean.. SMALL.. they have like miniture box fans.. I don't know the sizes.. but you'll see when you get there.
While you are at home depot buy some flexible copper tubing.. Most of the times you must buy this by the 10ft roll.. It's about $12.00 for 10ft. I think 10ft should suffice.
Take your newly bought box fan and remove the cover.. where the air blows out.. the "front" .. remove that plastic mesh front and start winding your copper tubing in side.. like.. going from left to right.. do it very carefully.. you don't want kinks in the copper tubing. Once you are finished use plastic tie straps to strap it down to the plastic mesh.. be sure to leave enough copper tubing sticking out of the mesh so you can easily plug your water tubing into it.
There you have it.. a very cheap yet very good radiator... the more copper tubing you have exposed to the air the more heat you will dissapate.. the shear size of the box fan will blow a ton of heat offa the tubing.
Now if you don't feel confident doing this.. then just buy a radiator from a water cooling store online.. or whatever.. i don't care.
The nice thing with the box fan is you have adjustable speed.. low, medium, high.. and of course off.
The resevior can be anything.. I find tubberware to be the easiest to cut up and modify if needed. Just fill it with 100% pure distilled water.. and for every gallon of distilled water put in the resevior.. add 2oz's of Red Line's Water Wetter. FYI 2oz's is the same as 1/4 a cup and 1 gallon of water is = to 128oz.
1 cup is 8oz's.
I think that's it.. That's just my 2cents.. although I have a lot of expirence in the water cooling field.. so you might find some of this over your head. I could go into much more xtreme setups for killing a TON of heat through radiator setups.. but I am sure since you are a newb.. you'd like to get your first time done easy

.