I would never run a system without heatsinks and fans all over the place. Heat = death, and it's not exactly like our systems are getting any younger, or being made any more, you know? 
I used to think like that too, until I built a few systems that sounded like small jet engines while running (and quieter fans only help so much when you have a lot of them).
But I would at least use the largest heatsink I could fit into the application.
Later '040s do run quite a bit cooler, but why wouldn't you run the risk when a big block of metal is cheap?
