Actually, it overclocks very well!

With a simple Swiftech water cooling rig, i'm currently running mine 24/7 at 3.6GHz, not getting over 45-deg C with both cores occupied 100% on video-encoding tasks. i'm using an Asus P5LD2 MB, and i've cranked the core and memory voltages a bit (Corsair memory is running 1:1 with the FSB), but i've had no stability problems.

As usual in the game of overclocking, your mileage may vary...