well, the underside will feel hot, with contribution from cpu heat and other factors of course, but the amount of heat that you feel with your hand on the underside of the unit dosen't always correlate with the cpu heat. The cpu sits under the f6 and f7 keys.
Bottom line is the unit is going to feel warm to hot on the underside, and there's not too much that can be done about it. Right now i am at 50c/122 f for cpu a result. My MBP has been on for about 4 hrs, and i just finished making a dvd in idvd, encoding and burning it. The underside feels warm, not hot, and not uncomfortable to touch, but i'm not sure i'd want it sitting on my lap for too long.