I really need some help here. I ordered an ASUS V-70 92mm Sleeve CPU Cooler so I could clock my quad to 3 ghz. It is in place and everything is fine until I view the temps. It seems this changed the system cpu temps from 33c to 43 in bios and up to 70 with no load at desktop ! Obviously I am not quite sure how this could happen. This fan spins over 1000 rpm faster and moves about 40 cfm more. What can I do ? I have no thermal grease, the heatsink came with some on it but I did not clean the old stuff off.

From a design point of view, that top down cooler is a bad choice. It's small and provides poor airflow. See cooler performance ranking:
http://www.frostytech.com/top5heatsinks.cfm

Still, with that kind of temperature, you probably didn't install it properly. If there is air between the cpu and base plate, heat won't transfer. Try to reseat the heatsink.