I am not a speedfan fan... I prefer RivaTuner for Nvidia Video cards. So this is what you are saying, I am trying to put your words together properly.
It idles at 45 degrees, or was that 60 degrees? And while you play COD4 it hits about 70 degrees? Is that correct?
first off, what brand card do you have? Some brands run different temps because they set their fan profiles differently. I have an XFX 8800GTS/512 which is more of less the same card you have. In COD4 I hit about 65+- depending on the temp of my room. XFX has a very agressive fan profile where it will spin the fan faster and gives cooling priority. However eVGA gives quiet priority. It will let the card get hotter to spare you the noise of the fan, so I know those 8800GTS's will hit 70 degrees.
So when it comes down to it, NO 70+- degrees is not bad. Video Cards are made to run hot.