When holding down the option, cmd, p, r keys it will not boot up. You should hear the boot chime as if it were restarting again. It's a good idea to keep holding down the keys until you hear the boot chime 3 times then when you let go it should boot up normally. You will need to check your date/time and your startup disk after resetting the P-RAM. Go to System Preferences/Startup Disk and make sure that your OS X system drive/folder is chosen as the startup volume.
The temperature and sluggishness are probably not related. I would start by Opening up Applications/Utilities/Disk Utility select your hard drive on the left hand side then under the First Aid tab click Repair Disk Permissions then Verify the Disk. Can you describe what you mean by sluggish? What applications are you running? How full is your hard drive?
As for temperature If you'd like to keep the temps a bit cooler install SMCFanControl:
http://www.versiontracker.com/dyn/moreinfo/macosx/31029 You can use this to slightly increase your internal fan speeds. From my experience this will help keep your iMac running much cooler.
George