If you're going with a closed system, you might want to go to an auto parts store and buy an old heater instead of that Black Ice. It's much cheaper and equally (or more) effective.
Also, depending on your future plans (pelts or not), the Gemini waterblock may be a better alternative. I'm waiting to hear back about how they'll fare with a pelt, but I know that they smoke the competition in a normal watercooling setup (and it's US$35 for the low-flow version).
Here's Hoot's waterblock roundup, although it doesn't include a MCW372.
Here's Gemini.
If you want to know more about Gemini, the guy who makes them (Peter) is here as Highlander944.
Good Luck!
Edit: fixed Peter's name.