I've read many reports of people getting 4.5 on air alone. On a much hotter and less refined AMD I've been able to do it, even. I think you're underestimating air coolers, ledhead. Geofelt gives a good explanation of them. Simply put ; water cooler exhausts directly out of the case. CPU fan heatsink will blow it away from the CPU, and a good tower style one out the back of the case. They're just different methods of relocating heat. CPU fans don't get particularly loud if they're the good kind, and the only real drawbacks are size.
The corsair GS600 wouldn't be my first pick for a PSU. It's channel well technology 80+ bronze...
Gaming performance is most heavily influenced by GPU, but you will want the i5 for future proofing CPU intensive games and stuff. It's not a bad pick but consider updating the GPU later on.
That motherboard is an 8 phase board which is pretty good. I'd expect making 4.4 GHz.