You really don't need to do anything drastic.
Do clean up the cables as best you can, that will improve airflow.
I am running an XP2100 (1.73Ghz) OC'd to 1.9GHz (~XP2400) and my temps stay around 51C. I don't have AC on most of the time, so ambient air temp is Probably 26C.
Inside my case I have one 80mm fan in the front, one 80mm on the CPU, and one 80mm blowing out the back. The PSU has one 80mm but I don't really count it as it really doesn't contribute to cooling the case. The two case fans are running on 7v to keep the noise down.
In the case I also have two 7200RPM hard drives, two optical drives, vid card, sound card, TV tuner (toasty!), and two ethernet. With all this my case temp is never more that 5C above ambient.
The trick is airflow. Maintaining slight positive pressure inside the case will ensure that fresh air is constantly moving into the case, while the hot air is being moved out. I suggest you get a rheobus so you can adjust the airflow of the fans properly. Plus, you can cut down on noise considerably.
Remember, the trick isn't to have huge amounts of air getting into your case. It works, but its expensive to do and noisey. A steady flow of air is much more beneficial.
Or you can watercool
I'm only using air right now while I upgrade my h20 setup.