Ok, I am in the same situation as you and this is what I have gleamed from my searching.
-yes take it off, take it off now and get yourself some Arctic Silver
-use a razor blade and run it flattly along the gorb to take off the majority of the goop
-use an automotive degreaser (I have WD-40 and read I could use this, if anyone knows I shouldn't please let me know heh), rub it till it's clean and then..
-use rubbing alcohol, the purer the better to get every last bit of the goop and any oils from your hands off of it, use a lint-free cloth for this (like lense cleaners) until you can't see anything on the cloth after you have cleaned it
-apply a small amount of thermal paste to the processor NOT the heatsink and use a clean credit card or the like to smooth it out into a paper thin layer. All you need is enough to create a surface to surface link, not a juicy sandwich.
Someone who knows better could correct me if I am wrong and please do since I haven't actually done this yet.
Remember to keep everything clean, don't touch anything with your hands that is going to be making a connection, oils are bad.
Hope this helps