Personally I'd maybe swap out the FX-8350 for an i5 4670k. You could even save some money on the case and get something as awesome as a Corsair 350D. Either way, you won't need watercooling in my opinion. Cooler Master Hyper 212 EVO is awesome value for money and will cool your CPU plenty.
But with a $1500 budget I would definitely look into getting either a GTX770 or an HD7970. Both of them perform so much greater than a GTX760.
The best advice I could give you is to hold on until ATI releases their new 9x series cards. I can guarantee you prices on the nVidia side will drop. The HD7950 and the GTX760 are neck and neck, but the HD7950 is a better overclocker and comes with free games.
In summary with your budget I would change this:
1. Wait until the new ATI cards are released in a month
2. Change out the FX-8350 for an i5 4670k
3. Ditch the Zalman and get an Hyper 212 EVO
4. Look for a cheaper case unless you really want that one.
5. Go for 8gb of 1600 mhz memory that's half the price. 8gb is plenty depending on what this sytem will be used for, 1600 mhz is plenty unless the price difference between 1600mhz and 1866mhz is minimal.
6. If you decide to go for an i5, get a Z87-M45 gaming which looks awesome, and is a lot cheaper than the Sabertooth.
7. Change out the graphics card for a 7970 or a GTX770. Overclock both these cards and the 7970 is just so much more of beast. Radeon cards are overclocking monsters. Things to consider here is if you're going to overclock at all, and the 3-4 free games you get with Radeon cards. Since you are not overclocking at all, go for a GTX 770
What resolution is your screen? If it's anything greater than 1080p you REALLY want to get something more powerful than a GTX760. GTX760 is king of the hill for budget 1080p gaming, but go to 1440p and you really want either a GTX770 or an HD7970.
Whatever you decide, I beg of you to wait for ATI's new cards. The money you will save will be worth the wait. I'm expecting the biggest price drop from the GTX780.
*EDIT*
Here you go:
http://pcpartpicker.com/p/1F9Ca
Pretty baller system right there. Will handle everything you throw at it. You could even get some Corsair AF fans and go dual 120mm fans at the front, and a single 120mm fan at the back to increase airflow and keep your case cool at all times. If you're going for looks, an MSI GTX770 will match that motherboard just perfectly, better than the ASUS card since ASUS' cards are buttugly IMO, and you could get the Corsair AF120 in this colour. Well, you get three different colored rings in the package either way: