Well I would like to overclock it a little bit at some point, but the main reason I would like this particular kit is because it takes the heat right off the processor and ejects it out of the case instead of just blowing it away from the processor. This should keep everything a bit colder and (hopefully) extend the lifespan of the electronics. This kit also connects to the motherboard so you can monitor the temprature and adjust the output, which should mean I can raise or lower the cooling if I need to. When it comes to cooling processors I think a little bit of over-engineering is a good thing, and it doesn't hurt that I have found an ex-display version that is going cheap. ^.^ That's just my thoughts on it though.
It's just not really worth it to liquid cool modern CPU chips. With the dies getting thinner and thinner even the i7's cool rather well with air. The Cooler Master Hyper 212 evo is an excellent air cooler some of us use. The way the fan system is so flexible the CPU fan can be mounted on the side facing the back case fan and no warm or hot air has a chance to get in to the rest of the box. It goes right out the back.