I know a lot of previous posters have said that watercooling is not necessary, but if you plan on overclocking, especially on the Ivy Bridge CPUs, I'd recommend it (really, there's no reason NOT to overclock, it's not difficult if you do your homework, and you can drastically increase the performance of your CPU). I've got a Corsair H60 cooling my i5 and I've been very happy with it. I got it for $50, whereas the Hyper 212+ (if you're sticking with air-cooling, the Hyper 212 is excellent - for the love of all that's holy don't use the cooler that comes with the CPU) is $20. Given your budget, $30 isn't going to be a big deal. In my humble opinion, it's well-worth the peace of mind when overclocking heavily.