Dont 'set' anything in CoreTemp... let it read the CPU diode on its own
it should see that Q66 and read it correctly as 100c tJM and that means your MAX full load test temp after as long as an hour+ should remain 20-25c UNDER tjM or 75-80c MAX which the system will never see running FSX or other apps
Your PSU is not able to run this system, thats for sure and that will also drive temps up
I also suspect the HSF is not able to clock a quad as high as you are trying to go in combination
your version of Speedfan is OLD.. they may have corrected the offset in the newer version 4.35
install that and check it against CoreTemp... but you are reading CPU CORE 0 and NOT the default speedfan temp for the processor which is the CASE temp of the slug. You muct change that in the configuration to read CORE 0
Config - Temperatures - check INTEL CORE 0 to be displayed and verify that with Coretemp
On the older versions of speedfan the calibration is donw through the ADVANCED dropdown..
INTEL CORE at $0 on ISA
and set the temp offsets to make up for the case to diode temp variance using Coretemp to show you what the correct temp is
But as I said, the newer version of Speedfan may already have fixed the offset problem
here is what you should see and it should be close to what Coretemp reads for the Diode althouh it may not be exact... if you see a variance of more than 3c then you know speedfan is off and needs to be calibrated. The older versions of speedfan required a +13-15c adjustment

I just noticed looking at my speedfan readout on 12v its not right... I know my PSU is fine so its possible Speedfan is not reading yours right either. Grab Everest and verify the PSU on the 3.3, 5 and 12v outputs

as long as its above 11.75 you are OK but 11.70 is borderline.. 11.8 would be OK