Overclocking Gigabyte HD 7870 OC

I was thinking of overclocking my graphics card using AMD OverDrive on my catalyst control center.
This is my first time doing it and I wish to do it with caution and safety.

Samsung 24" 1080p
Corsair C70
Corsair 750W
Intel Core i7 3770k 3.9GHz
(4x) Kingston 4GB DRR3 1600MHz
Seagate Sata 500GB
Asus HD 7870 2GB DDR5 OC
Coolmaster CNPS11X
Windows 8 Pro 64bit

Is this a good idea and will it be a significant performance increase?
I need advice on how to set it up correctly and what values to set the memory and GPU clock. Also how the changing the fan speed will affect my PC.
And any other helpful advice.

Thank you in advance.
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More about overclocking gigabyte 7870
  1. As the "OC" says, this card is already overclocked. I don't think it will significantly higher.
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