OC'ing is good for games, and is also a penis equivalent in many communities... isn't that obvious?
OC'ing does help a lot in everything. I'd rather have my Athlon run at 1.9 GHz than at 1.45 GHz (I plan on doing 2 GHz or higher once I figure out how to connect a bridge on the proc and raise the voltage) if I can do it without any serious problems... isn't that worth it? I was also able to easily change the FSB from 133 to 170 and the RAM from CAS2.5 to CAS2 without any problems either... and that did amazing things to my memory bandwidth and overall speed. Unless your life depends on your processor and mobo, or you have a very bad combination for overclocking, why
not overclock?
It's also fun... I mean, look at it this way: some select TBred 1700+'s can run at 3 GHz... yes, 3 GHz. They're fairly cheap too ($55 when brought from newegg, and $60-$70 when bought from places that guarantee that they're the right TBreds) and coupled with a good mobo and good cooling, you can easily hit 2.6 GHz and have a computer that can top a 3.06 Ghz P4 for insanely cheap.