*Before I continue, the BIGGEST PROBLEM with liquid cooling is that it actually reduces air flow across the critical CPU voltage regulators! So you efficiently remove the HEAT, but then the Voltage regulators can overheat and cause your CPU to become unstable and crash. Some of the workarounds include switching the fans around to INTAKE to blow more air towards the CPU area (which increases heat inside the case), or reverse the airflow completely (CPU radiator fans as exhaust, but rear fan as intake and front fan as exhaust).
The only great solution is to use a motherboard with a cooling loop through mounts on the CPU voltage regulators.
There's a LOT of information about this you can Google, but as said the most important things are:
1) Motherboard,
2) CPU cooler,
3) Luck of the draw on the CPU
I think 4.7GHz is a more reasonable top-end even with a good motherboard, and I suggest considering a good air cooler instead like THIS one:
http://pcpartpicker.com/part/noctua-cpu-cooler-nhu12s
Compare the TEMP and NOISE of the NH-U12S to the Corsair H80i for example:
http://www.frostytech.com/articleview.cfm?articleid=2749&page=6
A 10dB increase is DOUBLE the perceived sound so the Corsair H80i is roughly 3.5X louder when cooling to the same temperature. Whaaat? Oh, and it costs more, is louder, and due to the CPU voltage regulator air flow probably can't overclock as high. Unless this review made a big mistake I have to accept these numbers.
and:
http://www.overclockersclub.com/reviews/noctua_nhu12s/5.htm
"When you get to the point of making a choice on your cooling solution, you really cannot go wrong with the NH-U12S. It has got enough technology built in to make your head spin, runs dead silent, looks great, fixes one of the greatest cooling challenges, and comes with a six-year warranty to make sure you are happy with your purchase in the long term. The NH-U12S does it all and does it well!"
Most motherboards use PWM to control the CPU fan so don't get a cooler with Voltage controlled fans.