I use speedfan, I have never figured out what T3 is. I think it's not connected on my system, or not connected to a meaningful sensor on the Winbond chip. Not connected could account for the speed of the fluctuations being seen. The way its wired on my m/b is to read the Winbond sensor. By comparing with the readings in speccy and SiSoft Sandra Lite, I worked out that T2 was a measure of the CPU temp (my CPU doesn't have a temp sensor built into it), and T1 was a measure of the 'system' temperature, which means 'motherboard' or reckoned to be the T of the northbridge.
The apparent discrepancy in CPU temperature referred to could be the difference between the case and the core temperature. For core temperature, see what CoreTemp says. I can believe that the CPU case is a few C cooler than the core, maybe in certain circumstances even warmer than the core.
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21.May.2015