what does OCing affect?

yes, and no


depends how far u Oc your Cpu


say an AMD 64 at 1.8ghz overlocked to maybe 2.7 -2.9ghz is going to shorten the Cpu's Life , u have to raise the voltage and the more voltage the more "electrons" would move through the Transistor's , and it will take abuse from an atomic level

also say u overclock at moderate levels 2.0-2.3ghz without raising the voltage the life would be about the same , as if u had never overlocked or the "stock" settings

many things contribute to a Cpu's life cycle , from heat to just running a bunch Of Apps


it all depends on what u do and what u r going to do

no , well electricity is a property of certain subatomic particles (e.g. electrons / protons) which couples to electromagnetic fields and causes attractive and repulsive forces between them

soo electrons moving through a transistor will eventually cause wear and tear on the cpu overtime

overclocking will speed the process of transistor "leakedge" where the transistor itself will not close properly, or it will have some miss calculation in the process of data or 1's and 0's it has to compute

but it depends how well/bad the environment around it is ...

-heat
-high voltage
-quality of transistor manufacturing