The 3200+ 939 you bought should be a great overclocking chip provided you have hardware that will keep up (usually Motherboard, RAM, PSU are main issues).
Overclocking right and keeping your system will keep it "safe" for years to come. If you plan on keeping your computer for 6+ years then maybe you shouldn't...but honestly if you want to keep it that long you are going to have FAR greater problems than having it burn up (meaning in 5yrs. or more you will need a new computer so bad this one will seem like a piece of crap to the new stuff)
Most 3200+'s get to 2.4GHz no problems...from there it's all dependent on the rest of your hardware and how cool you can get it. I haven't seen too many people hit past 2.6GHz on air cooling...which is pretty fast none the less.
You will want to ditch your stock cooler if you do overclock and get a solid aftermarket cooler and high CFM fan for good cooling. Once you get into cooling methods you can go your own route.
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Compaq Presario V5000 laptop