oh man don't worry about frying it from the voltage really, I set my Vcore up at 2.225 trying to get the sucker to not freeze when I started at prime95 trying to hit 2.8GHz on this XP...I can only get it to boot at that speed, no stable =/
Anywho, the newer processors simply won't take the settings, they won't try and force it through the CPU and completely destroy it. CPU's have since come better and for the most part won't fry just from you upping the Vcore unless perhaps you jumped from that 1.5 up to 2.0 but even then I still think your board just wouldn't accept the settings and a CMOS clearing would fix it.
You definitely need to up your vcore. My chip is 2.5GHz at 1.875 VCore and it's been that way for a while. And it's a mobile chip so it's supposed to be at 1.35 in a laptop lol =P
That's the thing with overclocking you gotta push those things, it's never meant to be a safe procedure.
Raising the Vcore is the only thing that will gain you stability so you either stay at 3.08 or you try 1.6 Vcore
I can tell you right now just going from 1.525 to 1.575 isn't enough to stable out an OC...that's only .05, I'd say you'd probably need 1.65 in order to get it completely stable if currently it just won't take it at all.
Don't assume that I'm saying 'RAISE UP THE VCORE YOU'LL BE 100% FINE!' but that would be the only way to get stability. Like I said i've pumped 2.225 Vcore through my CPU and it's not dead so CPU's have become a lot better at not dying out.
Basically this is a disclaimer....I take no responsibility for any harm done to your computer
But if your AGP is locked, you don't think your CPU is maxed out then up the Vcore