Sure if you want it..
I just made this for a guy the other day......
You might be able to squeak in at that price if you don't mind doing some work or buying used parts...
A version 2 Fuzion CPU block has come out, so some of the guys will probably be selling their version 1's...Look for this block in the for sale forum, its V1. FuZion CPU Block
I'd use a back-plate with it..Dtek FuZion Intel 775 Pro-Mount set
..You can make one out of a little piece of HDPE sheet to, that would be a lot cheaper...
For a pump I'd go for this..D-5
.Make sure to get the vario version like that if you can....Thats one thing I wouldn't cheap out on is the pump...
For a rad Bonnie heater core is good and cheap, use some decent cfm 120x38mm fans on it and a shroud....Or get a BIX 360 if you can find one cheap.BIX 360
...They work the best with 100+ cfm fans..115 Pana-S/W
.You could get by with these if you had to..86cfm Pana
..How To: Make any Sized shroud in 2 minutes
..How To: Build A Performance Shroud
..Poll: Push or pull configuration for Radiators
..Part 1- Temp's with and with-out shrouds
You can use hardware store tubing, its cheap but pretty stiff a CPU only loop shouldn't have that many hard bends in it anyway, so you can probably get by with it...I like this you use it on 1/2" barbs, its more compact, fits the barbs tighter so you have less chance of leaks..I'd look for it if you order from one of the stores..7/16x5/8"
For coolant just use 10% any anti-freeze and a little Lysol, just a ounce or so, or add a little 1 ounce bottle of iodine tincture, the kind that has a little alcohol in it...The Lysol and iodine will work as a biocide, just use one or the other..
..Barbs for heater-core-fstfrddy
..How to make a dual heater core fan shroud
..Info: Using teflon tape
Here are a couple of links for making your own coolants...
..PC Water Coolant Chemistry - Part I
..PC Water Coolant Chemistry - Part II
I'll leave you my cleaning and set-up PDF to, clean all your new gear before you use it...
These are the stores I use most often..
..Petra's Tech Shop
If you want a kit these 2 aren't bad, they are easy to upgrade as you go along...This one if they ever come back in stock I'd get with the 320 rad..Fuzion Kit
...This one has good components, with a quad I'd rather see you get a 360 rad though..Swiftech H20-220-APEX ULTRA CPU Liquid Cooling Kit w/ Apogee GT
If I was wanting to set up an economical loop I would just buy a part at a time as I was able to afford...That way you can get a lot better rig then you would with a kit...Kits are always a compromise, either on performance or quality..
There are a lot of build threads here look around and see what might be best for your needs..Are you after max clocks? Or just something quieter then a hi po HSF? Do some research and it will save you $$$ in the long run and probably better rig to..
.....Swifty 60 Ram Sinks
Swifty has a NB block if it fits you mobo cheap...I'd use a HSF on it if you think you can get away with it...
I'll leave you my cleaning and set-up PDF to, be sure to clean all your new gear well before you use it...