Honestly, that kit simply isn't worth the money. It is going to be a low flow, so-so performing kit. I read a couple of evaluations and tests on it and they back this up. Before I wasted my money on that, I would spend my $100 on a Thermalright HR-O3 for $50 for the GPU, and a maybe an arctic freezer pro or the like for the CPU. You will probably get better results with a good volume level and some room to overclock if you choose to.
You don't have high end parts anyway, and your Geforce 4 GPU shouldn't need watercooling at all (parts in your sig).