To water cool or not to water cool?

Ok guys, first off I would like to thank all the members here. Over the past year this site has helped me build a nice comp that I am very happy with. My buddy had two of the Maze4 power kits from dangerden and decided to only use one. I bought the other from him for $150 just for kicks. I would really like to give building a water cooled rig a chance but a) have never done anything like it before and b) I am a little worried about what happens if I screw up. As I write this my temps are around 32c on the CPU and 22c MB temp.(taken from asus probe, Its also rather cold in my room) Geez I don't even know what I am asking, probably just looking for some words of advice. Should I give it a go? or just ebay the kit and keep my comp the way it is?

kit:
http://dangerden.com/mall/Kits/kits_retail.asp

Comp specs:
Asus p4c800 e deluxlx; P4 3.2 not oc'd now but has been up to 3.58; Asus 9800pro 256; 512 kingston hyperx; 2x 80 gig 7200wd on raid 0(no real need just cus i could); all in a scorpio 868w.

I have taken all the fan grills off the case and put a 120 intake in the front.

well if you dont hook the waterblock in rite or theres a leak ... well your not going to be too happy with your system anymore

it's pretty easy to get set-up. just be sure to leak test it before you put it in your box. and leak test it again once it's in your box (if you can).

the main difference you'll notice is that it should be quieter, depending on your previous setup. i'd say you'll probably get your temp down to 25°C depending on ambient temp.

Go for it, you can always just change it back to air if you need/want to, unless you skip leak testing and fry some parts ;p