That is a very nice and big looking cooler. It looks a lot like the Hyper 212+ but with one less heat pipe which really won't make a huge difference.
As for the Q9550, what motherboard do you have? The E2220 is an 800 MHz FSB CPU. The E8500 is a 1333 MHz FSB CPU. If you are running the E8500 in a motherboard with an 800 MHz FSB you are losing a lot of clock speed. Basically, you will be running it at around 1.9 GHz instead of its stock 3.16 GHz. Unless your motherboard supports overclocking or is a native 1333 MHz FSB, putting a Q9550 (or even an E8500) is a waste. And if your board is an 800 MHz FSB and you are overclocking it to 1333 MHz, that would explain why your CPU is getting so damn hot. You should at least get a board with a 1333 MHz FSB. If you do have such a board, then disregard this. I was basing my assumption on your original E2220 CPU. And if you can't find a Q9550 (which are really expensive anyway) look for a Q6700 or Q6600 which are selling in the $40-50 range. You can also use the Xeon LGA 771 equivalent if you have a 1333 FSB LGA 775 motherboard because someone figured out an easy hack for it. Here is a beginner's tutorial on how it is done: (
link). With a Xeon, you will actually get a better CPU than the equivalent Core2 Quad because Xeons were designed for Workstations and Servers so they can take more heat, more voltage, overclock higher, use less power and they are more durable because they have a higher TDP and were designed to be on 24 hours a day, 7 days a week. Take a Q9550 for example, they are going for over $100 USD on ebay right now. The Xeon E5440 which is basically identical to the Q9550 is selling for $40 because everybody (mostly budget PC gamers like us) wants the LGA 775 version. Same goes for server RAM which is not compatible with desktop boards. Server RAM and CPUs were actually more expensive when they came out but now the desktop parts are more expensive on the second hand market. The good news is that you can at least use a server CPU and save $50 or so. Another great budget chip: the E5450 (1333 FSB) or E5472 (1600 FSB), both of which have the same clock speed, quad core, 12 MB cache specs of the QX9650 which is still selling for $180-200 used on ebay. Both those Xeon chips I mentioned, which are the same in almost every way except one has an even faster FSB speed, are selling for around $50 a pop. That is something to think about for a budget builder like yourself. If you have a board that can overclock the FSB to 1600 MHz, the E5472 is about the fastest CPU you can put on it and your PC will be pretty beastly for what you would have ended up paying for it. It won't be in the same ballpark as a Haswell i5 but it will be playing all the newest games with that 750ti and you it won't be running at 90c.