This is my rig.
How do I OC it?
First you should download RealTemp, Prime95, the Intel Burn Test, and Memtestx86.
Just start by finding the memory's max overclock while maintaining stability at the rated voltage. Found on the sticker on the side of the RAM stick, but I am sure you knew that. I just set the memory to the settings on the sticker since RAM does not really add much speed unless you are really looking for every last bit of performance out of your machine. When you set it at the rated timings, clock speed, and voltage, download an ISO of memtestx86 and put that on a CD to test that the RAM is stable at stock speeds. If not you can RMA it or just run it slower or add more voltage to it. Since it will most likely be stable at stock speeds you can either decide to overclock it or not, although I dont see much of a point in overclocking RAM when it is no longer tied to overclocking the CPU.
Then lower the RAM speed to somewhere around 800MHz or lower (it really doesnt matter so long as you are sure it will be stable, just put it well under the RAM specs) and find the CPU's multi that you would like to run it with. Adjust the voltage when you lose stability. Increase from x20 to x21 and reboot, repeat. If it fails to boot add the smallest amount of Vcore possible then try again. (the x20 is just the normal multi for an i7, I am not sure what the stock multi for a SB CPU is but you should start from there and not from x20 of course!) The max multi for the CPU you have is x57, but I dont think you will get anywhere near that since you dont have liquid helium on standby for cooling lol.
When you find that just put the RAM at the timings that you want along with the CPU and boot. If it boots then good for you, run the Intel Burn Test for 150-200 runs at max stress level and Prime95 on mixed for 10 hours or overnight to be sure that it is stable. Watch the temps, if they get to high for you then lower your clock on the CPU and adjust the voltage to keep stability.
When you are all done with that and the system is where you want it then you can be done or you can try for a higher overclock if your temps are lower than expected. Intel suggests not passing 67C and with the Intel Burn Test you will put the CPU in a stressful situation that it will never EVER see in real world usage, so usually anything under 80C in IBT is considered fine. I prefer staying under 75C and during the test my CPU maxes the temp at 69C.
Just follow this and don't do anything crazy and you should be fine! Just so you know I have not had the pleasure of overclocking a SB CPU yet but I understand the process so you can take my advice or leave it.
People over at OCN have been hitting 4.7+GHz on air, so you should be able to hit 4.0-4.4 without much trouble or any huge temps. If you have any problems then you might want to ask someone over there for help though, just reading about the process doesnt really help when troubleshooting I am sorry to say.
