Sounds like you got brainwashed in your class at intel. Overclockers.com has a great article which explains clearly why the IHS is nothing of the sort. Lot of B.S.
		
		
	 
Excuse me?  That is just about the silliest thing that I have had anyone reply to me in a comment in a long time.  You are right, Para, I should go read up on packaging from Overclockers.Com rather than believe the data from the company who switched over their main product line from a cheap direct die attach system to a more costly IHS system.  Data that I received during a seminar that I was taking on future packaging trends by the package development team at Intel.   
The IHS works because the bump underfill material causes strain on the die that causes it to bow out in the middle thus presenting a fairly small overall surface area to the heatsink.  Initially direct die attach techniques attempted to maximize surface area by applying the heatsink with a high amount of pressure to the die.  This works when the die is small, but on larger dies the warpage of the die is such that the die makes very little contact over the entire surface area of the die.  The IHS uses several thermally matched materials that are directly bonded to the warped die and then attached to the overall IHS surface to create a flat surface for the heatsink.  Encapsulation technqiues such as the IHS also helps reduce metal fatigue issues and other FC reliability issues.
The lapping techniques by the guys over at overclockers.com avoid this problem by actually grinding down the IHS to create a level surface.  Of course, their results show better cooling - they lapped off quite a bit of metal and created a mirror-like surface.  For a real comparison, they'd need to remove the entire IHS structure.  But this experiment is pointless because there is a lot of data in the journals on the subject.
For references, look at any of the IEEE Transaction on Components, Hybrids, and Manufacturing Technology in the years 1990-1992.  There are, as I recall, quite a few papers on the subject at the time.  If you want specific articles, I can log on to work and look up several, but I'm on my Intel sabbatical and I'd rather not unless you are going continue on that I've been brainwashed and that I'm talking BS.  For less useful information faster, check google for "flip chip warp" "bump underfill warp" and "flip chip encapsulation".
Lastly, think about it this way. Every single high-end vendor uses a form of IHS on their server and workstation flip-chip products.  PA-RISC, Alpha, Power4, Itanium - all of them use an IHS type system.  Most of these parts are on the extreme end of their power dissipation envelope.   And yet they all use an IHS-type encapsulation.  Why?  Are they worried that someone is going to take the heatsink off of the CPU on $20k server and then incorrectly attach it and then they'll get customer returns?  Not likely.    It improves heat transfer efficiency.