hey guyz i dont want to come off as smart aleck but the only physical property (if you're comparing "numbers" of materials) relevant to the discussion is called thermal diffusivity α. Apart from the fact that material properties are always dependent of temperature T (and pressure P), thermal diffusivity is defined as lumped quantity
α = k / (ρ * cp)
see wiki: http://en.wikipedia.org/wiki/Thermal_diffusivity
Why is that? For the transient temperature field T(x,y,z,t) of a solid homogeneous body, say a chunk of pure copper, the 3-dimensional heat diffusion equation sufficiently describes the temperature field at any point (x,y,z) and at any time (t). And if you look at this famous partial differential equation, the only physical quantity relevant to the solution of the equation can be alpha (α) only, i.e. the thermal diffusivity, simply because there is no other physical quantity "left" in the entire equation. In other words you have to lump thermal conductivity (k), density (ρ), and specific heat capacity (cp), in order to get the "single number relevant" to the discussion/problem.
Basically the higher this number (HIGH thermal diffusivity) the faster high temperatures are disintegrated, i.e. the extended body cools down FAST by itself. The smaller this number (LOW thermal diffusivity) the longer the body stays hot by itself, e.g. streets and walls in spain. If you wanted to build/create a "heat reservoir", i.e. a chunk of material which you heat up in the evening and which should stay hot (by itself) until the next morning, then you'd be looking for a material which has
very high mass density (ρ),
AND very high specific heat capacity (cp),
BUT very low thermal conductivity (k),
because this will return an extremely low thermal diffusivity (α) number!
Back to the "problem of finding the best heatsink". How do you define "best heatsink"? If you define it as a material which transfers VERY FAST the generated heat away to the cooler parts of the material by heat conduction in solids, then yes the material should have the highest number alpha (α) possible.
Now it's up to you to look through the tables and compare the alpha's of Aluminum, Stainless Steel, Brass, Copper, Gold, Silver, Neodymium, ..
i am out :p