^^ Well, as I said, its a MSI X58 Pro-E board. I am not concerned about IOH temps, since they will be taken care of by a spot fan. I will surely get the hyper 212+ soon.
@ubernoobie: Yes, removing the side panel lowers the temps, but then I don't want things to get dirty. I checked the fitting of the cooler, its fixed fine.
But the thing is that on almost all the reviews posted on the net, don't mention temps this high on full load without overclocking using stock cooler. That's why I was a little more concerned.