Alright mate, firstly that's the exact waterblock I have on my evga 770 sc dual. Works great, temps run low, ect. But, in order to run it, you will need a pump, reservoir, radiator, fans, tubing, fitings. Pretty much you need a custom water cooling loop. So, do you have one already? Or looking into buying/building? Because these do not run cheap. I've spent $700 or more on mine. And since your main reason is the gpu, which runs hotter than most cpu's, you would need to make sure you get a large good radiator, and a good reliable pump.
So if you already have a custom loop for your cpu and just looking to add the gpu to look, just make sure you have at least a 360mm radiator or can add a second one like a 240/280/360mm. Then yes that waterblook for the card is very good. EK also makes a good one, but doesn't lite up as nice.
But if you don't already have the custom kit, #1 I don't think its worth it just for the graphics. These cards run cool and if you've got a decent cooler on it theres really no need to spend $500 just to cool the card. I only 'added' my card as I already have/had the kit. I have the amd fx 8350, which runs hot, clocked at 5ghz, which runs really hot. So that's why I decided to go liquid cooling. then adding the waterblock was just to reduce fan noise and make it look nicer.
I like the XSPC kits, EK is also a great brand.
frozencpu.com is a great site, ordered all my components from there