Processor Compatability

I’m replacing my old 1.6 ghz Pentium 4 with a new 3 ghz CPU. The new CPU has hyperthreading, more than quadruple the cache sizes, and a much faster FSB bus, so I’m sure it will improve performance considerably.

They’re both socket 478, and are both Pentium 4s. So here are my questions:

will I be able to run multithreading? Does that feature require OS modification or anything? Are there compatibility issues beyond just the socket? How do I know if it will work on my motherboard? Do I need to do anything with software, or do I just swap out the hardware and the PC runs like normal?

Will replacing my fan improve performance? I know faster CPUs discharge more electricity, so they’re probably a lot hotter. I probably should replace it…