seems like that will replace what you mentioned just the same after you install the gadget then in hwinfo go to config and check use hwinfo gadget...
if you want to try it and see if its better than core temp.... it will solve that other prob you had too of core temp and hwinfo not being compatible etc...
directions are as follows -do not skip ahead do in order or bsod or crash may occur.
-go into folder hwinfo is installed
-dont run as admin... just double click the file HWINFO64 (32 if not on 64bit) the file type says "windows gadget"
-now a gadget thats empty shows on desktop.
- Now go into hwinfo to sensor window.
-hit configure check "enable side bar support"
-go to each sensor in configure window and select "report value in sidebar"
-when done hit okay and all values you selected will show in sidebar as long as hwinfo is open... and too my knowledge the gadget stays open until you close it even on restarts.
example pic here hope it helps.... hwinfo can even adjust how many times a sec info is refreshed so in theory should be more customizable then core temp