I decided to go with the TS200v and my particular model is the one with the Intel G1101/2.26GHz/2MB L2celeron chip. Can I upgrade the same motherboard to a 3.60GHz 2.5GT/s DMI 4MB Cache Intel Core i5-680 Processor without causing trouble with the BIOS or other complications or compatibility issues?
The i5-680 is on the list of supported CPUs for the TS200v. With the i5-680 being only 73W, you shouldn't have any issues with cooling. The factory heatsink can take up to a 95W TDP processor.
One caveat: the new processor won't be covered under your factory warranty. The heatsink and system planar will remain covered as long as you don't damage them during the installation.