Well yes, I do believe that card is folding as it should.
btw I know you've said you don't like temps that high but they're perfectly fine for newer age gpu's, not to say that means a thing it they bug you. They really are though, mine have been in the 80's and even higher since I got them.
Don't forget to check gpu %usage in Afterburner or Precision, make sure it's not at 70 or something.
Power mngmt all OFF?
A big fat NO! to the latest WHQL drivers, they're a nightmare, lag and other issues. 295 I believe was the one causing all the grief. Skip 'em and go all the way to the 301 beta, reported to solve the latest issues and generally blessed by the forums.
I wasn't even going to type it, but -gpu 3 should make it look for the card in the 3rd pcie16 slot, but hey, if it's folding, it's folding.
Are the other two cards ok, you saw my numbers and I know mine's a deviant release, but it's still only 16 more shaders than a 460.