If your computer is stable at your current overclock with your current cooling, then there is no need to improve your cooling, unless you're looking to reduce noise.
54C is a good load temp, although I would caution anybody against trusting those numbers, and even more so against comparing temp readings between different systems. Board temp readings are generally unreliable and inaccurate.
Any difference you observe between different thermal pastes on your system, even if they apparently vary by 3-4C, could just as readily be attributable to variations in your heatsink mount, variations in thermal paste thickness, quality of application, etc. Up to the inaccuracies involved in measurements and application, they'd all be roughly a statistical dead heat. It would be difficult to differentiate between the results.
So, I guess what I'm trying to say is that from the perspective of overclocking performance and saving money for better purposes, you don't need to worry about switching around your thermal paste (or case cooling, or or or ...
) -- Paul