Too hot on my i5?

Definately running to hot, I suggest you eighter reseat your cooler or get a better aftermarket cooler. Coretemp is way over the limits i concider safe.

Way to hot. Reseat cooler and re-apply TIM.

EDIT: I've never heard of that aftermarket cooler of yours, you should consider getting a better one, like Pir said.

So I tried to put the stock fan back on and see how it's running. The CPU running @ stock (stock clock, volt, etc.) it up around 50. With my rocketfish it was around 30 to 40 (every BIOS @ stock). I am wondering if an aftermarket one would really help.

Also, the rocketfish I got seems to get some pretty good reviews.
http://reviews.bestbuy.com/3545/9462609/reviews.htm

PS I'm trying to be ignorant, I'm just saying what I've found.

Yes, buy a xigmatek dark knight/Mugen 2 heatsink. You will have the ablity to overclock in the future as well.

Run LinX ... see how it fares with that. It should go higher.

mid-70s isn't too bad.
While it is warm, its not going to kill your chip or anything. If you dont want to spend more money I would suggest reseating the sink.

that's idle temps. 50c on the stock temperatures could be around 40c, the rocketfish could be around 50c, or room temp.

tl;dr idle temps mean nothing.

that cooler doesn't look like it has much cooling capacity, and it doesn't really look that good. Get a mugen 2, megahalem (although, that's kinda overkill) or TRUE.

I actually got an ARCTIC COOLING Freezer 7 Pro Rev.2 off ebay. You guys think it's a better cooler that the Rocketfish?

I assume you have the same cooler as me -- it's not good for overclocking.

get a megahalem, true, or mugen 2
im using cooler master hyper212+ now and my temps are around 60 with prime95, 1.4 vcore.. i know a little high but my temps are ok, and around 70s with intel burn testing
as long as you stay under 75 with intel burn test your okay
intel burn test really heats up your cpu a lot more than prime95