Diamond Thermal Grease
This was an interesting endevor I read about, in which diamond dust was mixed with thermal grease to create a diamond based thermal compound.  Most thermal grease compounds contain silver suspended in silicone.  This idea takes the use of diamonds which has a higher thermal conductivity compared to silver.  The exprienenet apparently resulted in almost doubled effectiveness in keeping temparatures down. 
http://inventgeek.com/Projects/DiamondGrease/Page1.aspx
http://inventgeek.com/Projects/DiamondGrease/Page1.aspx
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