My suggestion is don't upgrade to that board. I realize that isn't the worlds most helpful suggestion, but buying a somewhat dubious 775 board to replace a fairly equal 775 board doesn't strike me as the best idea. Personally I recommend saving your money and buying a SB setup at the earliest opportunity.
Beyond that you could flip the fan over so it pulls air through the heatsink and blows it over the CPU. Personally I'd probably leave it as-is, the back of the GPU is going to be hot enough that it may still add cooling to have the NB's waste air being pushed over it.