Q) but my Heatsink is currently at 59 C
A)Is that a reading from your "core" or "cpu"?. Most of the time "core" temps are a calculation and are unreliable. Check your CPU temp in your BIOS and match it to the same temp you can see in whatever software programme your using (eg Speedfan), if its not labled. SpeedFan lables them as "Temp 1" "Temp 2" etc.
Q) Should I consider an after market Heatsink before proceeding?
A) YES!! I've gone for a Thermolab BARAM with two 120mm fans in a push pull config, also got mosfet heatskinks and will also get some better cooling for my North Bridge.
Check this
link for a list of good reviews.Once there scroll down and find the AMD heatskinks
Q)I need someone to provide me with step by step instructions on how to overclock this processor.
A)Read
this its about the Phenom 940BE but it teaches you how to OC with a cpu with a unlocked multiplier, which yours is.
Take your time and make sure you inderstand everything. Have fun
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Phenom ll x4 940 BE@ 3.0 ghz
GA MA770-DS3 rev1 F8F BIOS
Thermolab BARAM Heaksink w/ 2xEvercool 120mm fans
Corsair VX450w PSU
Gigabyte 8800GT 512MB OC@700Mhz w/ Zalman fan
M-Audio 192 Sound Card
AverMedia 007 DVB-T TV Card
Corsair 2x2G XMS2 DDR21066
Windows 7 64bit
Sunbeamtech Freezing Storm Case w/ 3 120mm fans
WD 36G Raptor HD
Seagate 1TB Barracuda HD