If the fan is spinning I would say it could be one off or all off CPU, Motherboard and PSU. Short is a nasty thing that can take out multiple components.
Rule number one is shut the dam thing down when working on the internals! I guess you are lucky that computer components run on low voltage DC electricity.
The fans are spinning but they definitely sound like they're spinning slower. (kind of a Vroom, vroom, vroom, sound if that makes sense) So i was wondering could i just buy another motherboard off of newegg? and we'd be good to go??
It would appear the voltage regulation on the motherboard took a hit (PWM) at the least. This would explain the high cpu temp, don't run it until you find another board to test the cpu in. If that comes out ok you can probobly get away with just a new motherboard.
While not infering anything about rookies, you might ask a friend to help you out. Read the link at yahoo and your comments, I especially liked the comment by the
"certified technition" who cleary is not one, at least not for computer hardware.
Bottom line everyone is capable of doing this kind of work, but not until you've been shown. I have seen hundreds, no thousands of mistakes by home users and yours is no different. Based on my experience your PSU is ok and the cpu may well be also, but I'm 99% certain the board has had it.