My AMD XP Barton 2gig runs at 35C idle, 45-49C full load.
Most P4's i have seen idle in the late 40's and max out in the late 50's.
I'd say those temps are rather too high really, and running constantly at those temps will shorten the life of the silicon.
I'd suggest a bigger heatsink and fan, or at least a more efficient one.
And do get that fan for the front of the case drawing air in, You currently dont have a positive internal pressure for the case, and the air that is in the case is drawn in via the PSU (warming it as it comes in). So the air already sirculating within the case is already heated by the time its blown over the heatsink and then exhausted.
You should see a decent improvement with the addition of the front case fan. If its still way above the PIII, try some sort of heat pipe solution for the heatsink/fan on the P4.
I use a Hyper 6 (Coolermaster) but thats a bit goliath for most. SLK's are also very good but not exactly great for mounting on motherboards (very wide, hits lots of things on the motherboard).
Hope this helps, and good luck on the cooling