you should find the answer here http://rog.asus.com/forum/showthread.php?53945-Bios-204 . Check what I7 cpu model you have and compare your core multiplier to those in the thread.
The cpu is actually 2.5 and it TURBOS up to 3.5 based on necessity. That means it's not going to use full power unless it has to. Also, 70c cpu temp is very ok. Even 90c isn't an issue.