1) Omega's (should I? for this card?)
-Of course some excellent drivers! Great IQ and smooth performance!
2) Do I need ram heatsinks, if so where do I buy them? Copper of aluminum? Epoxy them to the chips? If so what type of epoxy works best?
-If you are not going to go for a major overclock then do not bother with heatsinks.
-If you are going for your Max overclock then try out some Heatsinks and copper if you can. You can use thermal tape as it is removable if you may ever need to take them off. If you are not worried about removing the heatsinks then yes try a mixture of thermal adhesive and thermal compound. They will not come off, hehe.
3) What are my options for overclocking the VPU/GPU? What are some good silent and loud products avaliable that do a great job? Is it safer to mod the base of a VGA silencer with a dremel to get good core contact? Is the VGA silencer the best Loud and quiet solution for maximum tweekage?
-Some people do like the Zalman others like to add a bigger heatsink of thier own and a fan off a CPU cooler. I have not tried either so someone else will have to help you here bud!
4) Does thermal paste matter here like it does on CPU's? Is it a huge factor with temps just like it is on CPU's?
-Yes it certainly can help to remove the factory goop and using your own paste. Temps will be much better but remember in doing alot of this mods your card will not be under warranty anymore. Although from what I take of your questions you are not to concerned about it
5) Is it safe to flash the bios to a 9800 XT over the Sapphire 9800 Pro? Where do i get a sapphire 9800 XT bios? Do Sapphire bios's even exists or do they all use a generic ATI bios? When I flash will it be clocked at 9800XT speeds? Should I upgrade the cooling before I flash?
-Some people experience very good results from flashing thier cards and simulating them to be XTs. However I would recommend trying the other mods you have mentioned first and see if that satisfies you need for speed!