hey man - how much can you spend? for a cheap setup for a n00b, here's what i'd say:
hydor L20/L30, depending on how much you can spend ($35/50, respectively)
10 feet of clearflex 60 (1/2 inch inner diameter, 3/4" OD) from www.mcmaster.com, page 85 in the catalog, it's called pvc chemical tubing, 65 cents/foot
metal hose clamps for each place tubing is connected (also from mcmaster)
for a good/cheap waterblock i'd say get the danger den maze 3, performs better than the maze 4
for a good/cheap heatercore, the most common heatercore is the one for an 86 chevette from your local autoparts store for around $20, or you can get a black ice xtreme for around $50. you also need 1 or 2 120mm fans, as loud/quiet as you want them to be. your choice. get shrouds for em if you want a little extra performance, you can find shrouds anywhere or make your own
this is all assuming you only want to watercool the cpu. if you want to cool the n/b and gpu, i believe the danger den blocks are again the most common. that's gonna send your price up by about $100.
if you want better equipment than above, get a cascade from cathar, a danner mag 3 with 1/2" nylon fittings from mcmaster and seal the impeller housing, and get a black ice xtreme 2 and/or more powerful fans.
for a reservoir, look around. you can get one for $25 or so, or make your own, or use a T-line
do some research too, i dont' feel like explaining all of these terms
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this signature area is too dern short, no space to put your system specs