Rack,
Eagerly looking forward to your results.... hope they work well.
Emo,
Even if you can balance out an exact system with a socket-thermistor setup to test AS and other greases, you get these issues: Compression, to the order of at least 1/2, but more like 1/3-1/4. That means, for ever 1C the core temp changes, the socket-thermistor will register from .5-.25C. OR even less. And since MBM monitors measure changes in 1C increments, you're looking at most changes not showing up at all. You also have the issue of thermal grease contamination. I've seen plenty of grease reviews where they barely take the time to clean the top of the CPU to try to remove as much of the old grease as possible.
The result is this: You will get a temp drop with AS, but it will not be shown as the full temp drop. I believe that was the main issue with Nevin's interview, since you've got a lot of websites pranting and ranting about how AS doesn't really drop temps over normal greases.
A cool, new example is the Cluboverclocker test between Arctic Alumina and Arctic Silver 2. A Celeron with Internal Diode showed a 4F drop. A Socket-thermistor T-bird showed a 3F drop. Since the T-bird was more than double the wattage of the Celeron, one would expect an over double drop with AS versus AA. So in there review, its clear that the Socket-thermistor is compressing the results by at least a factor of 3.
The problem with using a p4 is this: The core is massive compared to a t-bird/p3. At least hte p3/t-bird/athlon XP were simliar in size. Even if you take off the IHS, the P4 is some ~220 sq mm and the XP is ~128 sq mm. The comparison would work, but the results wouldn't quite be the same, since the smaller contact surface and higher thermal density of the XP making cooling harder.
Mike