Few things here,
1. There is nothing wrong with his board, its a EP35-DS3L and thats not even close to a board that limits overclocks. While on disscussion about motherboards if you do not have bios F4 which is latest, grab it here: http://www.giga-byte.com/Support/Mot...ProductID=2778
2. The voltage reading you see with CoreTemp is the VID, that is a constant set voltage in the factory and is the default or stock voltage for your specific processor at it's stock speed. It is NOT current voltage.
3. The temp reading in bios is Tcase and is supposed to be different than idle and load temps, the ammount of load on the CPU when in bios is about 50~60%. RealTemp and CoreTemp read Tjunction which means core temps, not Tcase. One rule to remember is Tjunction is always higher than Tcase as its the heat source. If not then somethings wrong, its like saying the pot of water on the stove is hotter than the burner.
4. Trust CPU-Z for CURRENT CPU vcore, it can be found here: http://cpuid.com/cpuz.php
Make sure your vcore is no higher than 1.36v under load, you should be fine even to 1.40v but its best to play it safe.
5. If you use CoreTemp for 45nm processors edit it's .ini file so Tj max reads 95c, if you do not want to bother with it then use RealTemp. If you like to use SpeedFan set an offset to the core 0 and core 1 temps untill they match RealTemp, that will tell SpeedFan to use 95c Tj max. Beware, many DTS are stuck on the new 45nm processors and do not detect low temps like mine, to counter this set very low vcore such as 0.80v, set FSB to 200Mhz, RAM 1:1 and CPU multi to 6.0. This will give you 1.2Ghz with near no heat output, the open Everest and look at the "CPU" reading which is your Tcase, if it reads 1c above your room ambient then its reading correct, if its reading lower then give it an offset so its 1c above ambient. If this is the case for you then use Tcase as your temp and make sure its no higher than 74c, everyone should be doing it anyway as Intel says: http://processorfinder.intel.com/Pop...el=ThermalSpec