Decided that I could not be bothered to wait for the Grizzly TIM from OCuk. So went ahead and did the mod using the supplied TIM from EVGA.
As others have commented, pretty straight forward to do, just take your time and be careful.
For the 1070 FTW, there is as someone else has already commented. One more screw holding the backplate on than is mentioned in the instructions. Pretty obviously that you need to remove it, as the backplate wont come off.
The extra three screws that I mention above (for the 1070 FTW) do in fact hold the mid-plate on. So once I had put the new pads on the VRAM modules. I put these back in to hold the mid-plate securely (IE. prior to re-fitting the cooler).
The thing that I did find SHOCKING... Is that there appeared to be
ZERO contact between the thermal pads on the VRAM modules next to the VRM circuitry and the mid-plate.
None what so ever!!!! This alone highlights why EVERYONE needs to do this mod. The supplied pads for the VRAM appear to be slightly thicker than what was fitted. After fitting the new VRAM pads and securing the mid-plate (with the 3 screws mentioned above). I then removed said plate and checked that all the new pads were making contact. Which they are now.
The supplied TIM appears fine. Used the "spread" method. GPU temps look just fine (same as they did before actually). 25C idle (passive cooling at this point) and low 60's running Heaven benchmark with the new default fan curve. This reduces to high 50's when running my customer and slightly more aggressive fan curve. So pretty much the same as previously. Though I obviously can't measure the temps of either the VRAM modules, or the VRM circuitry. But I'm sure they are fine now.
Putting aside the issue of the "potential" heat issue with the VRM circuitry on these cards (now hopefully sorted with this thermal pad mod and the new fan curve). What I'm not happy with, is the issue regarding what are quite obviously undersized thermal pads that have been fitted to the VRAM modules. This is quite obviously a
manufacturing defect 
It would just be nice if EVGA would come clean, throw their hands up and admit this.
So... at last I'm hopefully sorted now.