What McDonald's was that?
That's just an aluminum heatsink too. A copper one ought to help with overclocks.
The console does need the heatsink too, as it was very powerful for the time (if inefficient - it's about three times more powerful than the PS1 but the graphics performance is probably only 1.5 times better, depending how much you count the cost of expensive stuff like z-bufferring etc). Overclocked N64s need additional cooling or they crash on some games, so evidently the existing heat solution was exactly right to keep it completely cool on the outside for the regular clock speed.
That's just an aluminum heatsink too. A copper one ought to help with overclocks.