jesus christ 60C with the side panel OFF? Well, somethings wrong there thats for damn sure. I hate to think what your temps would be with a normal case.
So yea, somethings obviously wrong with your HSF. Take it off and check to see if its clean. With no side panel on there youre running a VERY high risk of sucking stuff up into your heatsink (common issue, especially with stock AMD heatsinks). Take off the fan and make sure it and the HS are clean enough for heat to disipate.
Clean your thermal compound off with iso. alcohol (on core and heatsink) and reapply it as seen here
. I highly recommend using Arctic Silver 5. It can be found online for as low as $6- even CompUSA has it for like $10 I think.
Also consider a new HSF. If youre gonna go thru all this trouble, you might as well do something that you KNOW will help.