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Does seem on the warm side, the thermal spec is 100C so, your close. The chips have the same TDP so I'd expect the new chip to be the same temp as old one.
Sorry, I printed T4300E, it was a misprint, actually it was CoreDuo T2300E, TDP=31W (corrected in the post). The new one (T7400) has TDP=34W.
Probably 3 extra watts add approx 10 C if heatsink had been designed exactly for 31W.
I'd double check that everything is put together right and if I was confident of that I'd live with it.