New PC Build, with a handful of detailed questions! *HELP*

[1080p n1temare]

AMD Based PC
http://pcpartpicker.com/p/2b3mD

Intel Based PC
http://pcpartpicker.com/p/2b3uY

NOTE: I do have duel monitors, and will be adding another 2x4 8GB ram at a later date.

Questions

• 
  > I'm looking for a price/performance ratio here, so I'm not biased between the two; AMD or Intel, I'm look for a more high end gaming, enthusiast system, one than can be overclocked pretty hard, which one would be better? About a 1200$ Budget(USD)
  > I've done some research about the more recent GPU's, as it seems the GTX 770, R9 280X, and the 7970 GHz are about the same tier. I've chosen the R9 model, to stay with a current generation of GPU, is this a bad decision? I'm not biased on either GPU, Just looking for a deal.
  > Would I get similar performance on an i5-4670K, for the price?
  > I've chosen Crucial as my Memory manufacturer, I've had them in 2 prior PC's, always worked great, I am open to other brands, any recommendations?
  > Is water cooling worth it? I do want to overclock, but I've never used it before.

Please feel free to post a new recommended build in the 1200$ budget, or help the ones I have! thank you!

 

[Sakkura]

1. Well, as you've set the systems up, the AMD build gives more bang for the buck (basically because it's cheaper).
2. It's fine, at least for single-monitor gaming. But, I mean, the more high-end GPUs (R9 290 etc) belong to the current generation too. If you want to game across two monitors, you might want to consider a more powerful GPU.
3. In games, yes.
4. Crucial's fine. I'd prefer a different kit with smaller heatspreaders though, those tall ones are unnecessary.
5. Not really at that level. It's only really worth it with a very high-end setup, either one of the best AIO closed-loop coolers (Corsair H110i etc), or a custom loop.

 

[St0rm_KILL3r]

Those two builds only have different cpu and mobo, But in gaming you will get same performance with 4670k, and 4770k. The fx 8350 (at 8 core optimised games) will be quite better than 4670k. But on 4 threaded games the 4670k will be better. Video rendering and multitasking is only when you will notice a differnce between 4670k and 4770k ( although fx 8350 is also good for both than 4670k ) but in gaming they both are same.
But money should also be considered, because if I were you I would have bought fx 8350 and with that saved money I would have bought the r9 290 over r9 280x as you were spending more on cpu than you should. So consider buying the 4670k or fx 8350 and with that saved money buy r9 290 gpu.
Speaking of overclocking, I think the fx 8350 has an egde here, as it has 4Ghz as it base clock and it can be overclocked upto 5.1 Ghz on liquid cooling than 4670k.

 

[Sakkura]

Assuming you want to keep the option of adding a second graphics card, here is what I would suggest:

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($210.98 @ Newegg)
CPU Cooler: Noctua NH-D14 65.0 CFM CPU Cooler ($59.99 @ NCIX US)
Motherboard: Asus Z87-A ATX LGA1150 Motherboard ($94.99 @ Newegg)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($49.99 @ Newegg)
Storage: Samsung 840 EVO 120GB 2.5" Solid State Disk ($89.99 @ B&H)
Storage: Seagate Barracuda 2TB 3.5" 7200RPM Internal Hard Drive ($82.98 @ OutletPC)
Video Card: Asus Radeon R9 280X 3GB Video Card ($304.99 @ NCIX US)
Case: Fractal Design Define R4 w/Window (Black Pearl) ATX Mid Tower Case ($79.99 @ NCIX US)
Power Supply: Corsair Professional 750W 80+ Gold Certified Semi-Modular ATX Power Supply ($89.99 @ Newegg)
Optical Drive: Asus DRW-24B1ST/BLK/B/AS DVD/CD Writer ($16.98 @ OutletPC)
Total: $1080.87
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-11-29 07:20 EST-0500)

 

[Sakkura]

Speaking of overclocking, I think the fx 8350 has an egde here, as it has 4Ghz as it base clock and it can be overclocked upto 5.1 Ghz on liquid cooling than 4670k.

That's not really an edge, since its performance per clock cycle is lower. 4.0 to 5.1 is a 27.5% overclock over the base. For the 4670K, a 4.2 GHz overclock is 23.5% over the base clock.

 

[1080p n1temare]

I did forget to mention, this is for high end gaming, video editing/rendering, and music recording.
OT:
I would also like to stream, so from what I've researched, the i5 isn't as optimal for streaming?
And, I was planning on running the 280X in CF at some point, it comes with the bridge, but people have been saying you don't need it? And the RAM isnt the exact model, but it is the Crucial Ballistix model, a lot shorter.
So with this being said, water cooling still a waste?

 

[IAmSpencer]

get a i5 instead of the i7 and a 290 gpu?

 

[1080p n1temare]

Any more thoughts?
UPDATED BUILD:
http://pcpartpicker.com/p/2b82i

 

[Sakkura]

The Corsair CX600 is sufficient with a single 280X, but not for Crossfire. And it's mediocre quality, you might still want to get something a little better.

 

[1080p n1temare]

TX 750?

 

[St0rm_KILL3r]

Speaking of overclocking, I think the fx 8350 has an egde here, as it has 4Ghz as it base clock and it can be overclocked upto 5.1 Ghz on liquid cooling than 4670k.

That's not really an edge, since its performance per clock cycle is lower. 4.0 to 5.1 is a 27.5% overclock over the base. For the 4670K, a 4.2 GHz overclock is 23.5% over the base clock.

Of course I know that, I just wanted to say that it can be more overclocked than 4670k