First off, to effectively peltier cool an athlon, you have to use 120+ watt peltier (higher the better, figure 1.5 to 2 times as many watts as your processor makes in heat). There are pretty much zero heatsinks that will dissapate that much heat.
As far as thermal grease losing integrity, I'm pretty sure it doesn't unless it's an EXTREME amount of time. Like, several years. Most of them say they have an "Unlimited Shelf Life" and most of the tests I've seen show no degredation. If you choose to epoxy, only do so on the outside ceramic part, but I'd recommend against it anyway...
Hope this helps, and feel free to correct me if I'm wrong
Peace
John