This ended up being a BIOS issue. After updating the motherboard BIOS
to the ECS 7/21/10 release the linux kernel only sees the two
temperature sensors. All of the it8716 is all gone.
[root@pvr1 ~]# service lm_sensors status
acpitz-virtual-0
Adapter: Virtual device
temp1: +30.0°C (crit = +110.0°C)
k10temp-pci-00c3
Adapter: PCI adapter
temp1: +15.0°C (high = +70.0°C)