So, sorry for intrusion, but it would be nice to know that Dell doesn't support BIOS overclock, since BIOS is locked on all Dell PCs except Alienware (which has only preset options, no full access).
However, first we need to know your form factor, because only MIni Tower is more or less easy to upgrade
From left to right, models are MT, DT, SFF
So which one is yours? If it is Mini Tower open panel, note BTX layout, still possible to upgrade video card and power supply
If it is DT or SFF for factor, power supply is proprietary and video card space is very limited. But the main topic is processor, so lets come back to it.
So, in cases like present the only viable option is to upgrade processor
This is the list of possible upgrades and options
Chipset
Intel® G41Express Chipset w/ICH7
Processors, I will make yours
BOLD and obviously they are listed from the strongest to weakest
Intel® Core™ 2 Quad Processors
Intel® Core™ 2 Quad Q9650/3.00GHz, 12M, 1333FSB
Intel® Core™ 2 Quad Q9550/2.83GHz, 12M, 1333FSB
Intel® Core™ 2 Quad Q9505/2.83GHz, 6M, 1333FSB
Intel® Core™ 2 Quad Q9400/2.66GHz, 6M, 1333FSB
Intel® Core™ 2 Quad Q8400/2.66GHz, 4M, 1333FSB
Intel® Core™ 2 Duo and Pentium® Dual Core Processors
Intel® Core™ 2 Duo E8600/3.33GHz, 6M, 1333FSB
Intel® Core™ 2 Duo E8500/3.16GHz, 6M, 1333FSB
Intel® Core™ 2 Duo E8400/3.0GHz, 6M, 1333FSB
Intel® Core™ 2 Duo E7600/3.06GHz, 3M, 1066FSB
Intel® Core™ 2 Duo E7500/2.93GHz, 3M, 1066FSB
Intel® Core™ 2 Duo E7400/2.80GHz, 3M, 1066FSB
Intel® Pentium® Dual-Core E6500/2.93GHz, 2M, 1066FSB
Intel® Pentium® Dual-Core E6300/2.8GHz, 2M, 1066FSB
Intel® Pentium® Dual-Core E5400/2.7GHz, 2M, 800FSB
Intel® Pentium® Dual-Core E5300/2.60GHz, 2M, 800FSB
Intel® Celeron® Processors
Intel® Celeron® Dual-Core 3300/2.50GHz, 1M, 800FSB
Intel® Celeron® Dual-Core 3200/2.40GHz, 1M, 800FSB
Intel® Celeron® Dual-Core 1600/2.40GHz, 512K, 800FSB
Intel® Celeron® Dual-Core 1500/2.20GHz, 512K, 800FSB
Intel® Celeron® 450/2.20GHz, 512K, 800FSB
So, looking at above, it is safe to say that you can dramatically improve your PC by upgrading to Quad.
Your present motherboard will support this upgrade, no power supply upgrade is necessary for this job (MT comes with 255 watt, DT and SFF with 235 watt).
If you decide to upgrade video card, then power supply might be compromised (based on your GPU choice).
Anything else I can help you with?