There are a lot of intel chips that never read below 40 no matter what. I have never read an explanation of this but personally I wonder how accurate their internal sensor is.
MY Q9400 is capable of about 3.8GHz and stays below about 60 under load (during testing). I typically run it at 3.4GHz and it is almost never at full load.
I would not attempt to overclock an intel chip without a good aftermarket cooler. Recently I had occasion to clean up and re-purpose an older machine at work with an E6850 dual core processor and stock heat sink. Running at stock speeds (3.0GHz IIRC) it would run over 60 under full load. MY work machine is an E8500 at 3.8GHz and it never gets that hot under full load. I have a Zalman cooler on it, not the best you can buy by any means.