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Robin I r sorrieez.
it makes the device run faster then it was supposed too. They do this so some slow apps will run faster, or just for the heck of it. it also wears out the processor so it will have a shorter life-span.
Well Yes and No... If you Keep it at a Decent Temp it will Last the same amount of time. So if you Run it Cold enough there is almost No Stress on the Processor.. The Limit of OCing is How Cool you can Keep it...Its mainly Temp and Power which Stops Most People from OCing past there current Speed..