Need Help Choosing Parts

I just did Build a PC. Cost is roughly $1,200 for as follows - see the attached file. I usually considered two options, and indicated which one I went with.

Main questions: 1) I want a case with a 5.25" external slot for an optical drive. There was ONE option.. Is that case okay, or should I nix the optical drive bay for the benefit of the overall build?; 2) Do I "need" the "additional" case fan at the bottom of the build? 3) The build .. order had Heat Sink prior to Water Cooling. Should I instead go with water cooling?

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