lol
It is one of the best thermal compound. You need to let it settle in for atleast 3-4 days from the time of application. Also make sure your heatsink is fully tightened onto cpu IHS.
Innovation Cooling recommends 5-5.5m Pea-Sized blob in the middle on the cpu IHS. Ofcourse you can apply more or less depending how much pressure your heatsink mounting system exerts on the cpu IHS.
The best way I find of applying the pea-sized blob in the middle is to place the tip of the themal compound tube roughly on the centre of cpu IHS and then apply the pressure onto the handle of the tube, so the compound comes out onto cpu IHS.
While it is coming out, keep your tube tip in that position and you will see a nice blob forming in the middle
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However if while applying the compound you lift the tip of the tube, then you will mess it up and then you will find the IC Diamond coming out of the tube like ice-cream which flows out of the ice-cream machine onto the cone lol
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This happened to me aswell
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However you will find that IC Diamond along with IC Perihelion gives the best spread pattern, even better than MX-4 in my case
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http://forums.overclockers.co.uk/showpost.php?p=18814406&postcount=291