leave all options as they are (most are on auto). Then just change the BCLK upto around 181 to take it to 3.8GHz, should be stable as its stable with an i7 920. You may need to increase the voltage by one or 2 notches. You can get upto 3.6GHz with stock voltage in most cases i hear.
If you wanna spend the time messing around with the voltage and running stress tests then you can try for 4.0GHz.
not stable... cpu overtemp warnings... want to try something simple like 3.2 first... should be able to hit that w/o overheating right?? i don't have liquid cooling but my heatsink shouldn't be that bad...
tried 1.3 for cpu... 1.6 for dram... under prime temp got up to 84 according to probe and 90 according to real temp... had it at 150 x 19 multi... just that this board has sooooo many oc features that are new to me... last thing i ocd was a p4 lol
used silver compound grease... bout as thick as a business card i'd say... maybe a lil less.. seated good... could it be because the 2 heatsink fans are hooked to a y adapter and only use one mobo connector? fan says it's runnin 1800 rpm
No need for water cooling, the Hyper 212+ is fine, its a great cooler for a low price of 25$ on amazon or 30$ on Newegg. Also, you did clean off the compound correctly right? You have to use 75% Isopropyl alcohol (spelled something like that) or anything like 100% would be fine too. After that I'd recommend using AS5 or something better like MX-2. I personally use IC 24 Carat. Anyway, anything above 80, is way too high, even above 76 is running hot already. You want your load temps never to pass 75 like J-Sparrow said.
I hear many people get to 4.0ghz with Turbo. But If you running 24/7 or at least you don't want a spike in your bill, don't oc to 4.0ghz The power draw is a lot more than 3.6ghz something like 435watts-ish. So 3.6-3.8 is a good OC.
If you find the Hyper 212+ not cooling enough, get 2 Scythe Slipstream 1200rpm fans and dual fan configure it. There "quiet" (not the quietest obviously) and way quieter than the stock fans on the Hyper 212+.
IF you want a recommendation for a higher quality cooler, the Venomous X or X-RT is good, the X-RT just includes AM3 brackets and a Thermalright fan, but the overall cooling performance is fantastic. However I would think that the N520 you have is enough for a good OC.