Well, after reading through every post, here's my honest assessment of your situation:
- Clean the dust out of your case and get some good ventilation in there! Dust doesn't belong amongst high quality parts like the 4850. Ever. Get some compressed air or even a regular fan (better than nothing) and get some of that junk out of there. I suggest unhooking everything and taking it outside and leaving your mouth closed haha--it could get messy.
- The card may or may not be faulty. It's hard to say since so many variables were wrong from the start (questionable PSU, dust, no case fans (?!!), automatic fan setting--which for the 4850 is a no-no). If you've corrected all of these things and still get the problem, then yea, maybe it's time to return the card. If you get another one and the problem persists, you're probably doing something wrong.
- I can't help but shake the feeling that you're using Rivatuner wrong. Did you set the fan speed at 50 or higher (well-ventilated cases would only need about 40), make sure to hit the "Apply" button, and save the Startup settings so you are at that fan speed every time you start Windows?
- The 4850 is overkill anyway with an x2 4200 processor. It's going to be bottlenecked, and won't run your games any better than a 9600GT or similar level card. It could be a good investment down the road if you plan on upgrading your mobo and CPU soon, but otherwise, you might as well go for a cheaper card. You won't see any difference with that CPU, trust me.