Don't ask about "better", ask about worth it or reasonable. PUtting a whole PC in oil is not reasonable, there is trivial gain if any if implemented well, and mostly just a waste and burden to it.
If all you want to do is o'c, build the PC normally with air cooling and see how it goes. If you are not getting a good result relative to everyone else, it might be the parts not the cooling, but still then your best bet is water cooling with separate 'sinks and tubing for the particular parts you're having trouble keeping cool (and in that case, it would tend to involve voltmods, most parts will not just be too hot they'll be voltage constrained before that point, but with voltage comes heat too so it depends on the parts).
If all you want to do is o'c, build the PC normally with air cooling and see how it goes. If you are not getting a good result relative to everyone else, it might be the parts not the cooling, but still then your best bet is water cooling with separate 'sinks and tubing for the particular parts you're having trouble keeping cool (and in that case, it would tend to involve voltmods, most parts will not just be too hot they'll be voltage constrained before that point, but with voltage comes heat too so it depends on the parts).