If the last official update was 4.0.4 then there is no chance you will receive an update from Samsung. There were many versions released since then, then will not be going back to old hardware and giving updates. Your only option for a newer Android version will be to install a custom ROM.
And some custom ROM's don't allow much for overclocking, you often have to get a custom Kernel. XDA is your source for ROM's and Kernels for any Android phone.