Well the first thing you should do is determine the best temp for your yeast. All the yeast manufacturer's websites say what the optimal fermentation temp of their yeasts are for the particular strain. If I'm really concerned about what exact temp the wort is, I'll sanitize my temperature probe and stick in into the wort. They also make adhesive carboy thermometers, which will have a closer approximation to the actual temperature then going by the ambient temperature or water bath temp. The wort tends to be a few degrees hotter then your water bath and hopefully a few degrees below your ambient temp. From the temp of your water bath, I'm assuming your wort *might* be pushing it for *ideal* temp....but again, it depends on your yeast. I think 68 is a good average for most ale yeasts...though some are more forgiving about being brewed up into the high 70s. Even if you're fermenting at a higher temp, though, it's not the end of the world....you'll still have beer!
On Tap: Barleywine, Coffee Oatmeal Imperial Stout (big big beer)
Fermenting: Double Simcoe IPA
On the Bench: Racer 5 IPA
"One of the first things early caveman did, when he crawled out of the mudd, was to make beer. And cavemen everywhere are still making beer...and drinking beer." - Jean Sheperd