Is an air cooler or a 360mm AIO better for a modern CPU?

Across the reviewers we read, the gap is smaller than most shoppers expect. High-end dual-tower air coolers like the Noctua NH-D15 are repeatedly described in specialist communities as rivaling many AIOs, while a strong 360mm like the Arctic Liquid Freezer III Pro tops thermal charts per verified testers. For most builds it comes down to clearance, noise preference, and whether you want a pump in the loop versus a fit-and-forget heatsink.