>So MBM is able to access the Winbond chip directly without going through BIOS?
> That just doesn't seem right to me. How is it able to do this?
This is actually a complicated question. AFAIK (and I am reasonably sure) there are no BIOS system calls that a program can make to get a report this type of info.
Regardless, operating in protected mode as Windows does, an application program is not allowed to directly access the hardware. The OS intercepts such instructions and from there may do whatever it pleases. The OS could do nothing. It could issue an error warning. It could decide to actually run a progam at the correct privlege level that does access the hardware. Such an OS program would be "wrapped" with appropriate protection measures. As I understand it, there is a program module (like a driver) included with MBM that does what is necessary for the OS to allow access to IO ports. When things are done this way, a program supposedly can never lock up the computer. Different temperature/health chips operate differently, and MBM has INI files with info about how to operate many of them.
On the mobos have I have owned or had access to, the BIOS temps are high compared to the Windows idle temperature. Modern X86 chips (I have been told) normally power down parts that are not in use, but it appears that this is partially disabled while you are settiing things in the BIOS.
To be specific about accuracy: you are going through several levels of translation. There is a diode or thermistor which is set up to produce a voltage proportional to the temperature. Depending on how this is done, and how well, you get a more or less accurate analog to the temperature. With measuring instruments there would be some calibration method to get them close, but on mobos I am sure there is not. Obviously thermometers only measure the temperature at their exact location, so some offset or compensation may be arithmetically applied by MBM or the BIOS to (supposedly) derive the CPU temperature. The specialty chips that convert the analog voltage to a digital reading may not have particularly accurate A to D converters, so a one digit change is not necessarily one degree C change.
At the end, any digital system can't be more accurate than one step, which in this case is one degree C. But this is the least of the uncertainties involved.
To sum up, there does not seem to be any reason to think mobo monitoring hardware is very accurate. And mobo makers make no claim about the level of accuracy.