It's always worth running some cpu temperature monitoring software for a while after installing a new cpu. If your CPU is running hotter than is recommended and you don't realise then over time it'll won't be doing your cpu any good at all.
I've recently purchased a Core i7 2600K which under load was running at around 80C. I thought this was ok initially but after checking the official spec on the intel site found out it should not be running hotter than 72.6C
Needless to say I stopped playing games and running Terragen until I purchased a more powerful cooler.
After the new cooler was installed my temps dropped to mid 50C under load which I was very pleased about. At that point I figured I had quite a lot to play with seeing as I could go up to 72.6 so i've overclocked it now to run at 4.3Ghz (from the stock 3.4Ghz) and at load the temperature is around 60c now, so still quite a bit under.
Just for reference the Core i7-920 mentioned earlier in this thread should not be running any hotter than 67.9C.
IMO the stock cooler on the i7 CPU's is not good enough, at least the one that came with the 2600k, when running under heavy load. If you only ever used your computer for email\web\work you'd probably never have a problem but anything that's going to stress the cpu and it just can't cope and would at best shorten the lifespan of the cpu.