I hope Temperature 3 is a false reading.
196 Celsius = 384.8 Fahrenheit
I believe you are correct tg1911.
If they replaced HWinfo32 with the speed fan program, those senors would probably give out a totally different reading or none at all.
Each motherboard has various senors installed in them, the program you use has to be geared up with properly working with those sensors.
In other words, if the program is poorly written in lets say C++ or Visual Basic scripting language, it can either present a reading to a sensor that does not exist, or exhibit an inaccurate reading on one that does.
A good program should display N/A or something along those lines indicating a sensor does not exist anywhere in the system.
However some poorly written programs offer a false read out instead. This reading can display an alarming output, one that is telling the user of the program they have a sensor that is displaying a temperature of 1000 degrees Fahrenheit.
If anything, get a second opinion, try using a different program and compare the out put readings.
Now back to the concerns of White, below are two other programs we often recommend here at BC, try those and compare the sensor out put readings.
Speed Fan http://www.almico.com/sfdownload.php