Those are all good questions and ideas because I asked/tried them a couple of years ago when deciding to try this O/C thing. BTW, I'm sure of CrystalCPUID's qualifications. SpeedStep is definitely working. I use various programs to monitor temps & CPU speed/multiplier application, including but not limited to: Core Temp, Right Mark CPU Clock Utility, PC Wizard 2008, CPU-Z, etc.
I found this some time ago and found it worth adding to my references:
Sticky: Core i7 and Core 2 Temperature Guide