I still have yet to overclock my phone. I just have it so it downclocks when the screen is off for 30seconds. Got the Droid Incredible, that has the 1GHz Snapdragon (ARMv7).
I finally put a different ROM on it, though. Running SkyRaider 3.5... waiting for SR 4.0 to come out on Easter... Thinking about putting IncrediKernel on it too, instead of the stock kernel.