LatinJones --
For a long time I thought the "motherboard temperature" and sensor used by MBM5 and monitoring software like "ASUS Probe" was a "chipset temperature", but I found some diagrams somewhere -- can't precisely remember -- for the "location" of motherboard sensors, and they aren't anywhere near the chipset.
The only way I was able to measure chipset temperature on my ASUS P4P800 was to use a sensor with thermal tape placed as close to the Northbridge as possible on its heatsink.
For a while I was thinking of getting a "chipset cooler" -- possibly either the aluminum or copper models made by ThermalRight. I still have an option to use a home-made bracket and a 40x40x25mm Sunon "Mag-Lev" fan (virtually noiseless at something like 8,000 rpm) to cool the existing heatsink. But when I replaced my copper heatpipe CPU cooler with the ThermalRight XP120, the fin arrangement was perpendicular to the previous model, and it blew air right on the chipset heatsink. Temps went down by five or six degrees F, and for the AGP card also by a few degrees.
Right now, at room temp of 70F, my chipset is about 82F and my GPU temperature is more like 86F. And like I've said before here in this forum and possibly the "cooling" forum, the GPU is the hottest thing I've measured in any of my P4 "builds". [So I never minded paying $30-plus bucks to put a Zalman ZM80 heatpipe-heatsink on my AGP card(s). Based on the thermal sensors and an independent reference from the nVidia driver/software which taps the nVidia's own thermal sensor, it lowers the GPU temperature by about 20-plus degrees F.]