While I do agree, my mates Fe card isn't all that bad - it does overclock well, but tends to get a little noisy. It's certainly nowhere near the best cooling solutions and was priced awfully, but it doesn't deserve half the flack it goes.
I'm semi tempted to give this Fe a try, if it's crap or doesn't deliver on what they promised, just return it and go custom.
While I like the idea of water-cooling, I don't know if I CBA plus the horror stories of leaks. I use my PC for work, so any downtime is a serious problem.
Decisions decisions!