Well Leonedes I tried the pea size method, unfortunately it doesnt work for large surfaces like LGA1366 CPUs or large GPU dies. It doesn't cover all the area. And please forget about spreading it around with plastic bag / card. You do 10% of the work, the cooler does 90%, assuming you have thermal paste that's spreadable and not too viscous.
@Shant: laptop usually come with flat coolers that are flat-based, not DHT-based. So application in this case is simpler, much simpler.
Leonedes, here's what I did with my laptop:
Using the tip of the tube, apply a small quantity (not transparent thin, like 1-2mm thin) over the entire CPU area (since it's small, don't worry, you won't waste much) and just spread it around with the tube's tip so that it covers almost the entire area, with a very slight distance from the edges to spare. Once you put the cooler back on, wiggle it (the cooler ;)) before you screw it in (the cooler ;)) and you should have perfect coverage. The only way you can be sure that the entire area was covered is to take off the heatsink for a split second and check if the paste has covered the entire area. To be on the safe side, even if a bit flows off the CPU core, it won't do any damage since it will be just sitting on the CPU die. I used MX-4 for the job and noticed a 9C reduction in load (and I guess idle) temps on a HP Pavilion DV-7 cooler (VERY bad cooler). Brought temps from 92 to 83C, then with 2 fans blowing underneath, to 70C, using PRIME95! Netbook's cooler is almost like a RAM heatspreader (without the fins), yet I got 6C lower in idle and 1-2C lower on load (guess here the cooler isn't keeping up). And don't worry, here I made sure that the paste was covering the entire area.
I will post some pics soon to show you how I do it (the application ;)).
Of course there are 3 things to be VERY sure of:
1) Remove all POSSIBLE traces of ANY old thermal paste, since it will hamper your performance, if not now, then when it dries up. Sure, some ghost stains / smudges will be left, and they'll look like they're mashed into the copper, but don't worry. Use isopropyl alcohol or any decent alcohol and wipe it off (the old paste ;)). Once it's evaporated, prepare the heatsink for application. After the CPU area is clean with alcohol too, wipe off any apparent dust with tissue paper, or anything dust free (I use a mascara brush, preferable, and is recommended clean). DO NOT, I repeat, DO NOT, wipe with alcohol then apply the paste, that may lead to some dust being trapped, and you do not want that! Once it's dust-free, apply the paste, spread it around with the tip for a bit, then wipe off any dust from the cooler, and mash the cooler on, and wiggle, then apply pressure, wiggle, screw in.
2) Don't be stingy with the paste! Don't worry about excess, because if you apply with good enough pressure, any excess will flow out, and don't forget you're talking about a laptop cooler. You're not shaving off precious fractions or using perfectly lapped surfaces. Even if you are, good pressure = good results. Just don't crack the board of course, which I doubt you would do even if your name's Leonedes ;) Anyways, most if not all boards come with screws already built into the board which take in the cooler's screws, so don't worry much.
3) Take your time! Do this when you're perfectly relaxed. Any tension, and your results may be off. Take your time, patience is a virtue, if you expect to be satisfied. Don't be paranoid, on the other hand.
Now I hope you took my advice of getting Arctic MX-4 thermal paste on the other topic. It's Carbon based and thus ZERO chances of any electrical conductivity. Lasts a lot without reapplication, too. Simply the best. I'm using it. It's lovely.
I did the mistake of putting a pea sized drop on my Core i7 930 CPU, and let me tell you, I didn't get except 3-5C difference from my improperly applied Chill Factor II. But I guess I applied both improperly and got a good difference (Chill Factor II is quite a quality paste!). Guess what would happen if I properly applied it :)
Good luck. Tell us how it goes :D
EDIT: I checked Tarek's link:
http://www.insidemylaptop.com/images/replace-grease/apply-thermal-compound-08.jpg
This pic, see how much paste he applied for such a small surface? Well I guess he applied a bit on the high side, but he showed exactly the point I was talking about. I applied less than that for my Core i7! But I learnt from my mistake. Be generous, not stingy.
