in my experience, overclocking GPUs can provide a significant boost in performance.
I have the Radeon HD 7950, comes stock at 925 MHz core clock and 1275 MHz memory clock. I OCd it to 1050 MHz core clock, and 1500 MHz memory clock.
The performance gain was great in comparison to stock. I am now trading blows with a stock 7970 at -$80 to $100 less!
Be wary though, watch your temps, and start slow!
GPUs need extra attention when overclocking.