I strongly urge anyone who is scared (for want of a better word) of water cooling to take the plunge. It's the final frontier as far as PC building goes, and trust me mate, you won't look back.
BTDT - it's a complete pain in the backside.
It's a cool hobby and, if you're a mad overclocker and want the absolute best cooling power possible then yes that's it. For most people it's a waste of time though. Air cooling has become so efficient that you don't need water to create a powerful yet quiet PC. It's also a pain to upgrade graphics cards as you need new blocks then have to drain, refill and bleed the loop all over again.