Dethan1999 :
For overclocking performance, a water-cooler is the most efficient. The cooler you have should work fine for light overclocking. Don't go too extreme. Best way to tell is my monitoring temps closely and running some stress tests. But overall, Water-Coolers are highly recommended, but yours should be able to do some light overclocks.
Not 100% correct.
Air cooling is just as efficient, it just depends on the cooler you get.
Your motherboard is not an Overclocking motherboard, you'd need a Z97 motherboard.
Overclocking also depends on your CPU, what CPU do you have?
Depending on what CPU you have it can depend on the overclock, but with an air cooler like that, most people could probably get around 4.4GHz~ depending on...