help with new computer parts!!!

ok so after weeks and months of deciding what to do, i'm still lost.. i'll come out with it.. i'm pretty noobish at the whole computer thing and i've been using such a piece of junk for so long i decided to build a new one.. after doing some research and taking suggestions from friends, this is roughly what i decided on..

Pentium4 LGA 550 cpu
Asus P5AD2 925x mobo
Corsair XMS pro pc5400 2x512
2x74gb wd raptors
2x200gb seagate barracudas
lianli 12 bay case
pioneer dual layer dvr
radeon x700pro
thermaltake 480W purepower butterfly
belkin 500VA ups
dual dell 19" lcd panels

i do not however, have a good cooling solution yet.. some1 told me to go with watercooling.. if i do, i don't need to get like.. a heatsink for my cpu? do i need to get heatsinks/coolers(?) for my hdds vid card or watever else needs cooling?? it is to my understanding that these cpus get pretty hot so is it imperative to watercool?? i don't really want a super loud machine, but if it will be fine having a supernice heatsink and fans(?) i guess i could take that route.. i don't even know if i need any of these parts.. some1 told me that i don't need 480W or even the ram..? also i read up on something about prescott line being discontinued soon? and what is up with intel coming out with 64bit processor line?? should i wait before ordering?? i have yet to buy the cpu mobo and ram.. my logic is that if a 64bit intel cpu comes out i can use this mobo and if not i could be fine with having this setup.. well, does any of you guys have suggestions about switching any of these parts? or what about cooling?? do i need to watercool?? and if so, what are good watercooling solutions?? i heard corsair is good??? thanks for putting up with my super lack of knowledge.. the more reading and research i do, the more lost i get.. anyway thanks for reading and all input will be greatly appreciated!!! =)

the stock cooler should be fine unless you're going to overclock heavily.

If you go with watercooling, it's up to you what you want to cool. CPU obviously, but video card is up to you.

The system looks fine. I don't see any real problems. Maybe look at getting an Antec TruePower 480 instead of the Thermaltake.

I think you need to separate your questions into separate lines, it's hard to read as a single paragraph. Or maybe i just need stronger coffee

First and foremost, MUGATU:

WELCOME TO THE FORUMS!

Know Nuttin said:

the stock cooler should be fine unless you're going to overclock heavily...

Click to expand...

Actually, I'd like to respectfully dissent and voice my opinion that stock coolers are inherently inferior to a good Thermalright such as the XP90. In terms of noise and reliability alone, overclocked or no, you'll be happier with the Thermalright. Furthermore, the XP90 will give you cooling efficiency which approaches that of watercooling. Get a good 92mm panflow fan connected to a rheobus and you're all set.

In terms of cooling the HDDs, the Lian Li case has a provision for installing a fan which can blow cool air on them. That will suffice. Likewise, simply keeping the case temps low through the use of quiet 120mm fans will be enough for the rest of your components.

PSU: I'll second Know Nuttin's endorsement of the Antec 480. Stay clear of Thermaltake. Fortron would be another good choice.

Memory: Stick with the Corsair you have listed. You will not be disappointed

In general, if you are waiting for the next great thing, you'll be waiting forever. If you need a machine now, build it. If you wish to build a 64-bit system now, go with the AMD Athlon 64.