OP, Speedstep really isn't an issue, it can cause instability for some while trying to overclock, but once you settle on a speed/voltage, I would re-enable it to save energy/heat (there is no point in running it 100% all the time).
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i do not agree with a liquid cooler.
the idea of having liquid pumping in and around a electronics board amazes me.
i would only think about overclocking because you won this chip, if I had to spend almost $1300 there's no way i would.
before overclocking I would focus on getting more toys for the unit like SSD and maybe nVidia GTX580s'..
If a
normal water cooling system "amazes" you, then you'd probably have a heart attack if you saw mine. It's got the pump/reservoir (a five gallon bucket) sitting on my floor, pumps up and over my system (in sig, minus the 5870 and plus a 5970), then into an evaporator bong hand-made out of 4" PVC, then back into the res on the floor. It's ghetto.