I'll start by saying I'm an over-clocking novice myself, but my guess is you can be successful if you have really good air flow in the case itself. That means well placed fans with a good balance between intake and exhaust.
When I installed my stock P4 fan I was impressed with the heat sink mass, but the fan speed is a bit slow, and the thermal pad is not as good as well applied Arctic Silver heat sink compound. That said it is not easy to properly apply the thermal compound, and their are many delicate components to work around. Some of these fans are real beasts, and it takes a lot of pressure to seat them properly. So be careful.
In conclusion, if your system is assembled and working check your CPU temperature at the stock speeds. Look at your case for opportunities to add good fans, and see how much they reduce you CPU temperature before you turn the clock up. Then slowly turn the clock up watching the CPU & MB temperatures. If you can not get where you want to go, then get a better CPU cooler.
If you do, I would recommend disassembling your system to install it. This will minimize the possibility of damaging your motherboard.
ZZSpaceman