Good chances the board wont blow out. If you overclock alot, it will just boot a black screen, or just post an error. But it all depends on the board mainly. Increase the bus speed by 5 is the best option. But other times you can go backwards, like high to low. (400 and downward)

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Xbox 360 - 2 Games - 2 Controllers - 120GB Elite - Dead
PS3 - 23 BD Games - 13 PSN Games - 9 Controllers - 320GB - Alive
Wii - 6 Games - 4 Wiimotes - Alive
PC - Overkill - God like :]
EVO - Needs new clutch & brakes :[

Gaming Generations | XnogarD Production - Soon!!!