The Arctic Liquid Freezer III 420 is the objective winner of this comparison, securing victories in two out of three evaluated categories. Its most significant advantage is a 46% higher TDP rating compared to the alternative. This superior thermal capacity makes it the more robust option for handling demanding cooling requirements. While the Thermalright Peerless Assassin 120 SE falls short in total spec wins, it maintains a distinct edge in affordability, boasting an MSRP that is 68% better.

Users prioritizing maximum thermal performance should choose the Arctic Liquid Freezer III 420 to leverage its higher TDP rating. This cooler is best suited for high-heat scenarios where cooling capacity is the primary concern. Conversely, those focused on budget-conscious builds should select the Thermalright Peerless Assassin 120 SE. By choosing this model, users benefit from the significant MSRP advantage while still securing a capable cooling solution that remains competitive across the evaluated specifications.