Derp64 :
After my first go at overclocking a 4790k my advice would be make absolutely sure you get a sufficient water cooling unit such as the H100i if you plan to OC to 4.8GHz or higher and take careful care to seat it evenly and snugly on the processor then remove excess paste from the H100i after you've burned it in.
For a 4790k you wont see as huge of an improvement in overclocking as something such as the 4690k, so if you're going to overclock either way and you're only going to be gaming then the 4690k may be better for you since it's a bit cheaper.
When I did my initial stock runs the 4790k paired with a GTX 970 had absolutely no problems running Far Cry 4 on max settings.
Bottom line if you're gonna overclock it anyways you mind as well get a 4690k with a H100i or equivalent cooling. If you're not gonna overclock it then just go with 4790k and a Hyper 212 EVO. Overclocking the graphics card will almost always get you a better increase in performance vs overclocking the processor. I recommend buying your graphics card at stock speeds with a good cooler if you're planning to OC it, such as the ACX 2.0 from EVGA or the Windforce from Gigabyte.
Sorry, what about the paste? So after I use the cooler for some time once the thermal paste has set/burned in I should take a towel or something to remove it?
Also, I have the 980 Strix for my graphics card
Graphics Card:
http://www.newegg.com/Product/Product.aspx?Item=N82E16814121905
I already have all the pieces in but I'm planning on returning the Intel Single 140 fan, which is liquid cooling, for the H105i
Intel Liquid Cooling - What I have now:
http://www.newegg.com/Product/Product.aspx?Item=N82E16835203017&cm_re=intel_liquid_cooling-_-35-203-017-_-Product