Two things. That rad will not keep even just your CPU cool, especially if you overclock. It has aluminum in it, mixed metals in a loop cause corrosion down the road with the copper parts etc.
The GPU block and CPU block are pretty well rated. Unfortunately the CPU block is very flow restrictive and should be run in it's own loop. Meaning it's own rad and pump etc.
The GPU is a very hot one, and at load will generate quite a bit over 300 watts of heat by itself.
If you do attempt to make one loop you will need a rad like this, and I'm not kidding.
http://www.dangerden.com/store/product.php?productid=371&cat=99&page=1
And you'll need a strong pump. The DDC 3.2 with a quality aftermarket top is as low as I would go. Thats $100
I went top notch and spent close to $600 to cool my CPU and GPU.
First you gotta learn about WC. It's not like walking into Best Buy.
Spend a while (weeks is best for your sanity) at these links.
Look at the hundreds of loops close to your case and components in the stickies, read a couple 50 or so threads over the next week or so, you'll be on the ball to make the right choices and by then know how to put it together.
Not 'Roket Sience', but basic knowledge is required.
And you should spend a few hours on this site reading threads. It's how we learn. Once the goodies show up on your doorstep your on your own.
For your benefit please spend a few days reading a LOT. At the busiest places for WC masters. Guys who have done it for YEARS at OC forums and xtreme forums. It took me a while (I was OCing on air, aftermarket stuff, bios settings, best chipsets etc etc) to learn the language and the tricks to a easy install.
Don't expect miracles or SUPER DOOPER over clocks. What you will get is a quiet system that can handle OC to the max of your hardware IF you buy quality and buy smart. And minor maintenance too, a bonus for the water cooler.
Also while there please read on case mods etc. The radiators are not for small cases, pumps and hose routing, wire management and other things are important. Google your planned case and the word water-cooled in one line. You might get lucky.
.............................
Edit: The next paragraph was from 2008. With the advent of the HOT i7 and bigger GPU's, it has changed. A 220 size MIN for an i7, you want good temps and have warm summers, better go 320 sized rad for the CPU.
...................................
IF you just cool your CPU and your NB if you want, you can get by with a 120.2 sized radiator (RAD). And MAYBE fit in inside depending on your mod skillz. You want to cool your GPU too, you'll need a 120.3 sized rad, and it probably won't fit inside. The rear external rad really works great. No matter what your adding 15lbs to your PC, maybe 20lbs.
Once you got an idea of what is good/bad then start getting your system for WC put together and we'll be glad to help.
http://www.xtremesystems.org/forums/index.php? Not a noob site, but great stickies
http://www.skinneelabs.com/MartinsLiquidLab/
http://www.over-clock.com/ivb/inde [...] opic=20277 A GREAT Europe site
http://www.overclock.net/water-cooling/
http://translate.google.com/transl [...] n&ie=UTF-8 Info on rad testing
http://skinneelabs.com/
http://forums.extremeoverclocking.com/showthread.php?t=282232
Stores
http://www.dangerden.com/index.php [...] e&Itemid=1
http://www.petrastechshop.com/
http://www.sidewindercomputers.com/
http://www.jab-tech.com/