I put the chip into it's little black tray, the one that used to come as standard with all Core 2 chips but now only seems to be included with higher end versions. It just clips on and stops obvious palm contact with the LGA775 spots.
I also use a light tack masking tape to kinda seal the chip into the little black tray, this adds yet another layer of protection and keeps extra loose IHS shavings away from the chip itself, not thats a big thing or anything but saves a little tidying up afterwards.