Cm500, will I struggle with an ATX board?

Having decided I want to keep my new build fairly low key and minimal, I opted to purchase a Coolermaster ATCS 500 (previously having owned a Black Widow a long while ago before moving to a laptop).

However, I made a schoolboy error of not really researching the case specs. Whilst I knew how small it was, I wasn't aware of how the PSU sat over the motherboard, hindering the choice of heatsink/fans. My initial thoughts were that I could water cool, but, if I was to do that I would only really fancy something like a reserator, nothing more.

The PSU I will be using is a Hiper HPU-4B580 Type R 580W Modular ATX2.2 PSU and the rest of the system I am in the process of purchasing (not yet confirmed) is possibly an Asus A8N-SLi Premium nForce4 SLi (Socket 939) PCI-Express and then an Athlon 64 939 CPU (not yet decided which, but not dual core ;) ) In your experience, do any of you intelligent guys know a suitable cooler that would fit, or is my only real (reasonably quiet yet sufficiently cool) option to water cool ??

The only problem this poses is that this computer is going to be moved a fair few times a year (it will stay at my place of study, but may now and again be brought home) and thus watercooling would be a fair hinderence to me.

If youre going for a reserator for water cooling, then i belive it comes with quick disconnects, so you just turn a tap and unplug it and youre set, that way youre prob significantly less likely to damage anything than with a proper heatsink since waterblocks are comparitively very light.
The stock AMD unit isnt that loud, although i suppose it depends what else is in there. You might want to look into something that has fans on the side rather than the top, but all i can think of are wuite tall.

EDIT: Just thought, the zalman coolers (7000 etc) are quite low profile and also quiet, look into it.

Cheers herulach. Hopefully, both the psu and case will arrive soon so I can at least fit the PSU to see what clearance I might be able to expect.