reapplying thermal paste

I just bought a refurbished g60vx from newegg.com and it was a bargain.
anyways ive applied thermal paste b4 on my desktop using the dot method.
But i was wondering is this an effective way to reapply it?
YouTube - How to apply Thermal Paste correctly part 2

what thermal paste would u recommend?
Reapplying to both my gpu and cpu, how do i go about applyin it to the gpu? i think the factory thermal compound is that is why my GPU is around 70c idle which is horrible and makes my eye pop and not want to play any games.