I do overclock where it makes sence for daily use. So, yes, my C2D E4400 is clocked to 320x10 (3.2 GHz).. Air cooled ofcourse, with Scythe Ninja. Sometimes I do get "burned", no in failed hardware (yet

), but for example this same CPU worked fine on this same frequency even on box cooler.. so this was money wasted on aftermarket cooler. Also, I don't overclock RAM, as it makes almost no sence for stuff that I do. My GPU was also overclocked, both when I had X1950, and when I bought HD4870. Now I'm back on X1950, but haven't overclocked again, because it won't give me much advantage in current games anyway.. but when new card arrives - it will get clocked again.
I never did go to water cooling though, but only because prices of such setups make them less bung for $$$ than using air cooling. Pretty much the same as my Ninja "miss" - I doubt that this CPU would get much further even if it was watercooled.
What I DO NOT overclock are PCs used for just surfing on the Net and using office apps.. makes no sence to do it there, as any CPU is already overkill for those apps.
Cheers!
(I'm starting to like these QOTD articles

keep them comming!

)