Any disadvantages to overclocking a monitor?

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Yes to all three questions. Degrade the quality is a bit of stretch though. But when you choose to exceed the manufacturer's recommended settings you're going to cause the device to wear faster, possibly damage the device if you push beyond the limits that it can handle. I didn't mean to sound like a smart arse, but I guess I was. Sorry.

I think that the better questions to answer are, what are the chances of doing harm IF you can overclock it. A question to you is, are you thinking of overclocking this device somehow or are you concerned because the manufacturer is 'overclocking'?
Yes to all three questions. Degrade the quality is a bit of stretch though. But when you choose to exceed the manufacturer's recommended settings you're going to cause the device to wear faster, possibly damage the device if you push beyond the limits that it can handle. I didn't mean to sound like a smart arse, but I guess I was. Sorry.

I think that the better questions to answer are, what are the chances of doing harm IF you can overclock it. A question to you is, are you thinking of overclocking this device somehow or are you concerned because the manufacturer is 'overclocking'?
 
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Well I was going to get a Overlord OC 27" 1440p monitor that said it was overclockable to 120hz but my question doesn't really matter anyways because now I am going to wait for the MG279q Asus to come out which naturally comes in 120hz