Ack! Looks like there is some confusion about temperature identifiers. I'm paranoid about temps and have researched extensively; please, feel free to check for yourself. Your most powerful ally is all the reading material out there on overclocking.
First, you can start reading
this thread at Tom's Hardware for all you could ever want to know about C2D & C2Q temperatures.
Secondly, Intel uses a measurement you cannot get without the proper equipment. They measure the temperature directly in the middle of the IHS (integrated heat spreader). This can only be done with an external sensor.
Your chip, being a C2Q, has five temperature sensors built into it. One on each core (which are the Tjunction sensors) plus one Tcase sensor, which is in the middle of the cores.
The QX6700s come with two steppings, either G0 or B3. Both of them have a 100c TjunctionMax. The highest you should ever take your chip is 25c below your TjunctionMax, which for you translates to 75c. Below 70c is preferrable for 24/7 use. Below 65c is golden.
Coretemp will display your Tjunction temperatures. Note that Coretemp's "Tjunction" label is actually the TjunctionMax for your CPU.
The new Speedfan beta will display the Tjunction temperatures and your Tcase temperature as well as System, PWM, GPU & HDD temps. Which temperature reading is your CPU temperature will depend on the way it reads your motherboard's sensors, it's not necessarily Temp1.
Speedfan is a great program but needs some experimenting to decipher sometimes. Check the web page and see if there is a configuration already loaded for your particular MB, which would eliminate the need for the experimentation. It's worth it to me either way to see the rest of the temperature in addition to the Tjunctions.
If you're in the market for a CPU cooler, I just got a Thermaltake Big Typhoon and it's phenomenal. With stock cooling, I overclocked my CPU to 3.0GHz and ran ~73c under Orthos load. With this big honking thing installed, I don't break 62c. The stock cooler hit that with the default clock (2.0GHz).
Hope this helps.