Ok, so what's happening?

So recently, I decided to open up my fat xbone to give it some cleaning, and to replace it's thermal paste.

With some effort, I did all the work under a hour - wiped the dust clean of every major component with an air can, removed the old compound and put some maybe-more-than-necessary quantity of silver based thermal paste (but I swear it wasn't too much, I do know there is consequences to exaggerations).

As early as I got to test it, all sounded and looked normal - if not for the louder fan. When I launched a game (apps don't apply), it would only make it for a few seconds. Soon, the fan would get really really loud, and the console would turn off.

As if that wasn't enough, after a few trials, the console wouldn't even boot up. Which almost gaved me an impression that it could be something of the likes of The Light of Death - but I don't think it to be the case no more, as it is "working" as previously described at the moment I write this.

I don't think the fan would be the source of the trouble, as it surely is working. But for whatever reason, the console keeps shutting down due to "insufficient ventilation".

Do any of you guys have an idea? Or should I just throw it in the garbage at this point?