I'm guessing by high performance and balanced you mean bios settings?
These are usually auto overclocking settings.
Which almost always use too much voltage, resulting in somewhat higher heat.
To test.
1) set to balanced, save and exit.
2) Run firestrike or other benchmark of choice.
3) set to high performance.
4) run same benchmark(s)
If the difference is not very big, set to balanced, and be happy.
And the 70.5 is cpu temp. which you don't want to be at all the time.
Mid 50's under normal load makes for good cpu life.
There is quite a bit of performance to be had on FX series cpu's from overclocking, and increasing northbridge speed.
This requires a fair bit of bios tweaking.
If that is what you want to do, post an overclocking help question in the AMD overclocking forums here on Tom's.
You will be able to get much more specific answers.
By your questions i am going to assume you aren't highly experienced in overclocking and bios tweaking.
It isn't that hard, but changing things without knowing what they do is a bad idea.
Temps posted look fine to me. If those were under performance pre set, I don't think you have much to worry about.