didn't really have to post the "what is overclocking" link.... i'm pretty sure at least 80% of the members here know what it is, and probably at least half of them overclock (me being one of them.... cept not as of yet on my new Athlon 64).
but as Lee said..... it's more safe overclocking your CPU than it is your video card. if you OC your CPU too much.... it'll either POST, start to boot into windows, and restart right away..... show artifacts in windows and everything else (that does also happen with the CPU right? not just the video card?)..... or, if you don't have enough cooling, throttle down after getting into windows, and possibly restart then too (i've had it happen once cause i didn't turn the CPU fan speed up on my P4). there may be more bad happenings... like your CPU completely frying.... but that's only if you do an
EXTREME Overclock and don't have enough cooling (and in that video's case.... heavily overclock... and take the CPU fan off completely).
It's worse for your video card because there pretty much isn't a point where it says "OK, i can't take anymore" and restarts the computer. it just basically shows more artifacts as it get's hotter, basically until it ceases to function (unless i'm wrong on that.....)
If you want suggestions as to possibly how far you should OC, and to find out easily if your system CAN be overclocked, just post your specs.