first off, it is easier now because you don't have to worry about fsb ratio (and other related things)
but voltage adjustments are still there. basic OC are easy enough (light oc only) where you could get away with "AUTO" settings for almost everything.
for higher clocks however, it will require reading (or watching) guides. for your other question, yes it adds good performance. things will get hotter though so invest on decent cooling (stock heatsink won't cut it)
either way, always spend time on stress testing (these consume several hours)
just a few things, monitor your temps, and CHECK FIRST the MAX voltages so you dont end up frying anything. test test and test. be patient, there is no magic number here, don't just jump to 5ghz. take it slow esp if you don't know what you are doing.
i am not an expert though, so read around