Mine is currently running 111F/44C in closet at 80F ambient. It's been hammering on a backup all day on one volume. 2 Seagate 1.5TB drives configured as 2 separate volumes.
EDIT: Later that day.... 116F/47C with both drives humming (one reading, one writing doing a volume-to-volume backup using the download utility)
For yuks, I slide open the front panel about 1" and the temperature dropped degrees (F), back down to 111F. More is better, right? Maybe, maybe not. When I took the front panel off entirely, the reported temperature actually increased a few degrees up to 114F, and then returned to 111F when I slide the panel most of the way on again.
It sure seems like the drives would run cooler with the front panel completely removed. But they are probably taking the temperature off of of the system board...and if you remove the panel it is disrupting airflow over the sensor. Just a guess...
At any rate, the air vents on the front panel are microscopic. Case modding, anyone?
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I suspect that if you ported the bottom of the front panel things would run a bit cooler.