It depends. I can't even install 1.1 because it says my computer doesn't need it, but my boot rom number is different from the ones they show in the update page...
My fans keep at : optical -700, cpu - 1200 - hdd - 1200 when idle. You're fine with your speeds, just the psu temp seems to be a little high. what's your room temp? do you have any heat source around? did you run any heavy task to see what is the maximum psu temp?
The PSU temp goes way down when I actually start to do stuff (when the fans realize hey it's time to speedup now) Idle it's 80C though, my room is a little hot. Ambient temp is like 31-32C usually, I blame it on the computer cause the AC is set to 72F, and the other rooms are freezing.
I'm probably just worrying for nothing, while 80C sounds like a lot it might end up not being for the design of it. And I have absolutely no lockup or hang issues, so obviously the heat isn't causing any problems. Just that in the past with windows systems I've built, heat always caused problems.
Then again everything in the iMac except the HDD is based on mobile hardware, the CPU alone can handle a crazy thermal load of 100C, and it never reaches that, so CPU is obviously fine. The only other thing I'd maybe be concerned about is that the HDD spends a lot of time at 58C, sometimes as high as 60C but never over, According to the tech document from Western Digital for the 500GB drive in the imac, max operating temp shouldn't exceed 60C.
But I guess if anything ever does happen, it's Apples fault, I got the Apple Care. They can deal with it, even though I hate having to send stuff in to get it repaired.