I'm going to be using my Liquid Freezer II 120mm for a long time, as it's the best cooler my case will fit. I also have 2 ARCTIC P12's (one on radiator, one in bottom of case), one Noctua NF-F12 (front of case), and a big 190mm fan on the side of my case. There's also a 60mm fan zip-tied to my RAM because it gets toasty (I have B-die 3200 C14 and Nanya Tech 3200 C16 running at 3333 C16, they're close together and don't have all that much natural airflow).
For GPU cooling I have a GTX 690, which at first confused me. I then decided on switching the NF-F12 at the front of my case from intake to exhaust and running a pipe from the 690's exhaust to a panel on my case so that the airflow splits in my case. Air comes in the side and top, and goes out the front and back.
It's almost completely silent. The loudest thing in my case right now is the RAM fan and that's because it came from an Athlon XP cooler. If I turn it off I can't hear my system at all unless I spin up an HDD.
As such, I'll mark my position down as air. I know AIOs use water to transfer heat, but overall my system uses air to cool things and it does its job well.
Especially in winter - I can drop my system's temps by 15C during winter just by opening the window.