Well many would be fascinated by "Overclocking" and how you could make your system go faster at no extra cost. But, how effective is overclocking in a modern day system, lets find out...
The system I have used is my everyday rig, its specifications are as follows:
Core 2 Extreme QX9650 @3.00GHz(stock) @3.6GHz(Overclocked)
ATI 4850 512MB (Core: 925MHz, Memory:993MHz)
4GB Corsair XMS2 DDR2 800MHz
Corsair VX550 PSU
Cooler Master TX3 CPU cooler
HAF 922 cabinet
Well, a 600Mhz overclock is pretty mild, I can push it far more, but this is pretty much what most will overclock for 24x7 system.
So lets go ahead with the tests now, I have Included both synthetic tests as well as some gaming tests, here are the benchmarks used:
- Wprime
- Everest - CPU Queen & Memory tests
- WinRar
- Crysis Warhead
- X3 Terran
- Stalker - call of Pripyat
- Street fighter IV
Wprime:

Wprime is a multi threaded benchmark that benefits from both multiple cores and higher frequencies, so lets see how the system has performed:

Wprime 1024m test scale : seconds
As we can see, clearly overclocking helps here, a significant drop in time is seen.
WinRar

Winrar is a universal compression tool. I have taken the time taken to compress a 1GB file as the benchmark, no internal tool used.

Well, nothing significant here, overclocked settings we just 7 seconds faster, I took an average of 3 runs per setting.
Everest :

Everest Ultimate from Lavalys has many benchmarks, I have used CPU Queen and Memory Read and write tests.
CPU Queen did some some pretty decent gains with overclocking. 25603 points with Overclock and 21290 at stock.
As I had overclocked using the FSB, I wanted to see how it effected the memory performance, hence I ran some memory Read and memory write tests.

Scale : MB/sec
Some small gains seen in both memory benchmarks.