So i bought some thermal paste and re-attached the heat sync and fan to the CPU. I still idle around 50 degC. I ran Prime95 blend test for about 30 minutes and the temp was around 80-82 degC. All of my other temperatures are perfectly fine. 80 degC seems high to me, but maybe it's acceptable under full load. Advice? Keep in mind that I'm not overclocking or anything so I would think the stock cooler should be more than acceptable for my build.
I had a bad experience with the stock Phenom cooler as well. I replaced it with something with a bigger heat sink, probably from CoolerMaster. Water cooling is never necessary.
There is a chance that your temps will never be as high as with the Prime95, so you may be fine.