I'm assuming you are talking @idle right? If so, yes, you are high. With the fop38 and the 120mm blowhole, I'd expect you to ba a lot cooler. A few q's:
What is the ambient temp of your room?
Where is the case located? Ie, what type of circulation are you getting there?
I just put two 120mm AC fans in my case, and I got the biggest drop when I put one in the side of the case right over my hsf. I notices I was intaking a lot more than I was exhausting, so I just added another for a blowhole to even it out and get an upward airflow in the case. One problem I noticed with the blowhole, the only good passage of air from the bottm section of the case was almost completely blocked off with wires from the psu, so I bundled them neatly and tied them to the side to keep it open. Which brings the next point, have you made all your cables stay out of the way of the flow? Either make them round, or try to route them as to stay out of the way of the needed airflow.
If you get any more 120mm fans, I would recommend getting the AC powered ones from Radio Shack. They move 65cfm, are dead quiet, and don't use up any of your DC power. I just tapped the AC inside the power supply and added an AC molex inside the case (Label it!!!!) so when I just added another, it was as easy as adding another DC unit...
Plan your caseflow... Make the in and out either equal, or lean a little towards the exhaust side. I strongly recommend cutting a hole in the side over the cpu, I got my biggest gain from that one.