I'd suggest to download Real Temp and give it a try instead. The sensors for the new 45nm CPUs work differently than the old ones and are usually reported too high, and Real temp is supposed to be more accurate for them. If you take Real Temp and calibrate it to the two minus signs (since you have a 45nm CPU), I believe it will be closer to what it is, let alone Speed Fan is supposedly off by quite a bit on these new CPUs. I have the same CPU, cooler, and compound, and at the same 3.6GHz you're at (with the same 1.17V-1.18V), Hardware Monitor says one core is in the upper forties and the other is just above fifty, which would suggest it's warm, but yet, the fan is never ramping up (my system is always whisper quiet and sounds the same under full load and idle), and the heatsink is always cool, so I don't trust it's quite that high. Real Temp says one is 31C and the other is 37C-39C, which seems more believable. Neither sensor is "stuck".
Intel says the numbers are NOT supposed to be used to give an accurate number, but rather kick in throttling when needed. Use it to give you an idea, but if it's not too high and the heatsink stays cool, I'd say it's fine. With decent cooling (which that is), you'll probably run into a wall with voltage before you do with temperatures, at least I did, so I say don't put too much worry into it. That's a cool running 3.6GHz 45nm Core 2 Duo, so enjoy it!
By the way, I found the stock compound on that cooler (which is Arctic Cooling MX-1) to be better than the Arctic Silver 5. Some have found the opposite. With me, the stock compound idled at 33C-35C (according to ASUS Probe II). With Arctic Silver 5, it's about 5C higher. It is summer now too, so that's partly why. I've reseated about 5 times, so I doubt I'm applying it wrong (followed instructions).