I'm really hoping to avoid the F1 error because I may well need to be able to reboot the machine remotely as its a virtualization server and I keep it in the basement. It seems that installing a jumper on the connector plug might be enought to fool the BIOS (unless there's a way to NOT have it pause on boot errors).
I installed some software on the server OS to read the CPU temps and they seem to be running about 5-6 degrees warmer than the E5520 chips did. Considering they're hexa core and 3.34GHz compared to the 2.26GHz quad cores, that isn't a whole lot of difference.
I changed a Windows VM to 12 CPUs (6 sockets, 2 cores per socket) and loaded up a stress program. The stress program would generally run around 50% CPU while sometimes peaking up around 85%. A few of the cores hit about 72 degrees and temps fell back pretty quickly when I stopped the program. I'm going to run more tests on it tomorrow with the idle fan speed increased as well to see what that might do to help.