capability of this cooling

I currently have the COOLER MASTER RL-M4A-E7E3-GP Liquid Cooler, just want to ask you guys if this unit will work on my Q6600. just want to double check...I might add it to my evga 8800gtx card or leave it on its stock cooling depending on what you guyz say





I was planning on using artic silver 5 compound as well.?......is this what i should use???

found that Arctic Cooling MX-2 is better???