First off--you'll need to get your temps down before you OC. Get yourself some decent thermal paste (
http://benchmarkreviews.com/index.php?option=com_conten... ) then, reseat your current heatsink. When you do that, make sure to record everything printed on the top of your CPU so you can figure out your batch number and CPU stepping, which will impact your max CPU temp. After reseating the CPU, figure out what temp it hits during load.
Test/load the CPU with LinX. Stop the test if it gets hot.
There are a ton of ways to approach OC'ing--so long as you're comfortable resetting your bios if you pick a setting that's WAY too high. Typically, you go in kinda small increments so that you never have to reset your bios.
The first step is to set the RAM to the slowest speed so that when you increase the fsb, it doesn't push the RAM too fast.
Then you jump the CPU up to a speed you are 95% sure it'll hit. With your decent mobo, 2.7GHz should be a breeze. You accomplish this by upping your fsb to 337 or so. Upping speed or voltage increases temps. Always watch your temps!
Then you boot to Windows and run 10x loops of LinX (or whatever number you're comfortable with. You can reduce it when you're more familiar with what you're doing). If there are no freezes or errors, then restart and up the CPU speed by 50MHz or so and repeat. Once you get to 3.0GHz or so, you'll probably want to start increasing by smaller increments. There will be a point where 10MHz makes the difference and you probably want to be 50MHz below that.
You may well hit 3.0GHz stably with no voltage increase. If it freezes or gives you errors in LinX, up your voltage a little (like 0.0125V) and try again. Do not apply more than Intel specified max voltage! At least not until you know what you're doing.
When you can't increase speed because the CPU will make too much heat or you're as high as it will go stably, stop and run 50x+ loops of LinX and watch your temps. If it doesn't error out, then your OC is at least 95% stable--maybe completely stable.
Then you OC the Mem. Increase the memory speed and run 1 or 2 loops of Memtest86+ from a flashstick on bootup (you shouldn't need to go into Windows). Once your memory is at a speed you're happy with, try tightening your latencies and retest with Memtest86+. Once your memory can go through 4+ runs of Memtest86+ without errors, you can call it stable.
Then obsessively monitor your temps and tinker with your OC until you break your computer...at least that's what I do.