I plan on doing a similar system useing the Asus P4S333 board using the SiS 645 chipset. In the benchmarks I've seen the SiS645 gets better performance than the 845. I'm going to start with a decent air cooler and later upgrade to water cooling.
I have two questions.
A) What speed P4 do you think I would get the best overall performance from after OCing?
B) Since the proc you used didn't throw off much heat do you think water cooling will make that much of a difference.
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Just had a thought, maybe I could rig some thermaltake active ram coolers with smaller waterblocks and loop them into the water cooling system.
<Update>
Just check prices 1.8Ghz for $193 and 2Ghz for $330. Both with 512k L2 cache; also from vendors I've used before and trust (Accubyte and New Egg, respectively). Was leaning twords 2Ghz before, but after seeing how cheap the 1.8Ghz is thats what I'm thiking now.