Here's a few myths to dispel.

Static shock: geesus, it's not static shock. Use dictionary to understand what is static. AS5 has been tested to be non conductive under normal circumstances although Artic Cooling advises to apply it at the core (if non IHS a thin even layer on the core, a small dot at the centre if IHS) and no where else. And Arctic Cooling does also state that under certian conditions of heat and pressure exerted upon the paste may cause the paste to exhibit electrical CONDUCTIVE properties. Got it?
Thermal paste application: For cheap ass ceramic based thermal grease (white in colour), yes, an even thin layer over the core (if non IHS) or over the IHS preferably spread with a razor blade. If silver/copper/whatever metallic compound based thermal paste for IHS, just a dot the size of a rice at the centre will do, making sure that both surfaces in contact with it is thoroughly clean. Don't go overboard with it, I assure you, you will waste precious thermal compounds and at worse lousy temps.

Any other questions?