We have a similar setup. Only difference is the gfx card and PSu
I used to have a 212 and switched to water because these 4790s run some high temps. Even with the water cool I'll sometimes Spike to 60 on siege or the division.
Which water cooler are you running? I opted for the 212 because I was cheap but also because I had heard the lower end water coolers don't improve temps over air cooling.
According to RealTemp my CPU gets up to 66 C just playing Rocket League (at 4K mind you). My method of paste application is a small dab in the center and let the heatsink spread it out. No lapping. I might need to start considering alternatives. I do like the noise (or lack thereof) of the 212.