Nope. That's about normal. The full load temps a bit high, but nothing to be concerned about. Keep in mind if you have the heatsink/fan from Intel that has the termal pad (as opposed to one that uses thermal paste), it'll be a bit hotter.
I also have a P4C 2.4GHz, and it idles around 41C and hits about 55C under full load. Oh, and that's with the cpu running at 2.6GHz. My memory is junk and can't handle >2.6GHz, so it's upgrade time. Right now: 2.52GHz rock-solid. Better memory: ~3.0GHz or so. Cranking the speed from 2.4 up to 2.6Ghz didn't raise the temp even 1C under full load. Nice thing on mine: I've got an MSI mother board that has a little Windows program that monitors the temps, and lets me play with the FSB speed in real time. No rebooting to OC!
Soon to be proud user of Mandrake 10 (again!). SuSE 9 sucks!