Umm, I am a moron! I'd rather NOT tell you what I did, but here it goes anyway for your amusement. Not only the off-center clip was NOT directly over the core of the chip, but I also put the FAN on backwards!!! So it was sending the heat TO the CPU instead of from. I don't know what I was smoking when I was putting it together. BTW, after a round of 3DMark2000, my temperature is at 39C. Damn, 30C difference, wow!
*leaving overclocking forum with shame...*