There are lots of downsides in overclocking the phone I think.But its good to know that it can be done.
One its not something i would ever try, because you really have no control over what happens. BUT....I say awesome if it works. After all why overclock a pc...you want more speed, so if u can make ur phone quicker too y not if you dont mind the risk.
Nah, I wish my iPhone 3GS was faster. Loading up games or large apps takes a bit of waiting, would be great if it was snappier. That said, I wouldn't do this. Rather wait till next gen phones come out (well, that and wait till my contract is up)