Well, £150 would easily buy you a DDC1-T Pro/Ultra pump, a decent 120.2 radiator with some good fans and a top end CPU block.
That would give you £70 or so for a decent case over the cost of that Tai-Chi.
Having said that, a quick Google for some reviews on the Tai-Chi showed it to be a reasonable performer, but I'm not sure how flexible it will be for any future requirements.
If you don't want to install your own watercooling in a stock case (and you should, it's fun and rewarding!), then it might be a good option for you.
Personally, I would go the DIY route every time. I started out with a basic kit that cost me about £70, and that got me into it and understanding what it was all about.
If you're the same as me, once you've got the bug, you'll be wanting to change the kit to something with better performance. The only thing left from my original kit now is the rad and the fan!