Um if you can get prices like that for the sabertooth and the 8350 I'd freaking jump on them. And I'd get a decent air cooler even if you weren't going to OC, because I have an 8350, and I'll tell you right now that the stock cooler is absolutely awful.
For OCing, I'd go with something bigger than the 212. Look at the dark knight.
The problem is that the 8350 is a 125w cpu and it throws off a lot of heat to begin with. Mine idles at 36c with the stock cooler, which is awful for idle temps.
I'd at least get something a little bigger than the 212. If you push it to 4.5, you may want to go further in the future (you can get 8350s to about 5.2 stable) and the 212 will then NOT be able to keep up and will be a waste of money. Always better to buy what you will need in the future so you don't have to buy something twice.
And elmo, closed loop water cooling isn't really all that great. It's easy to achieve the same temps with a GOOD air cooler. If you're going to water cool, you need to invest in your own custom loop, and then it just gets really complicated to make if you have no prior experience and it also is a lot pricier.
Like I said, the cheapest water cooling I'd recommend costs 130 dollars. For like, 50-80 dollars, you can get an air cooler that's going to get the job done just as well.
If you use adobe, cuda is a no brainer. So a 670 or 680. If you don't use adobe, AMD is a great option. 7870xt, 7950, or 7970.