not really... it comes back to temps mostly. a hot cpu will die faster. so an intel running at 90C all day every day will last a lot less time then an intel sitting at 60C.
you can overclock a cpu without putting too much heat stress onto it. For example, i have a phII overclocked up to 3.9 ghz, it runs at this speed 24/7... this is a 3 year old cpu... but its still going strong because even under a prime95 burn it's temps don't get up over 52C... (phenomII cpus had temp issues around 60C) and most of it's time is spent down around 30-40C which is definately cool enough.
Generally you know a cpu is being burnt out by it's overclock when it starts to need more vcore to reach the same overclock/clock speed.