xp1700+ fried or mobo? PLZ help

Hello, have an Amd Athlon 1700+ nestled in an Asus a7a266 mobo I may have just fried. The system had been running fine for 3 years until I decided to remove the heatsink to clean and apply some AS5 compound. I followed the directions exactly (from official site) and when I went to power on the system...no boot, no beeps of any kind. All fans, v.card, and the hdd were spinning. Then, I stuck my head into the case and smelled the evil electronics just got burnt up smell...coming from the cpu fan. The heatsink locking arm had broken right outside the manuf.warranty but still felt tight...ran like this for years, however I bought a new heatsink and tried several times again with no success. The cpu smelled a little funny when I removed it after this, but with no visible signs of burning. I have a 2000+mobile on it's way and was wondering if I should test this new cpu in my mobo with new heatsink or have the mobo tested first? Should I risk my new cpu with this mobo or could a frucked up mobo hurt a new cpu? I could test my 1700+ in my buddies mobo...but is there any risk in damaging his system? any help would be great....too many smart people here not to know.

oh yeah by the way, the first thing I did was to pull the battery from the board for a few minutes....nothing. it was only overclcoked from the factory setting of 1.47ghz up to 1.64 ghz...thx