Do I need to upgrade my hardware | hardware details included

Hello,
Right now I am using:-
AMD Phenom II X4 955 black edition 3.20GHz
16 GB ram ddr3 1033
Gigabyte 790
ATI Radeon 4850
I am having 3 HDD all are WD all are green lable, and they are partitioned as follow:-
1st HDD ... 200GB (C:\using windows 7 ultimate, 64 bit) - 1800 GB (D:\).
2nd HDD ... 2 TB.
3rd HDD ... 1 TB.
I am working with Premiere, Photoshop, AfterEffects, Camtasia mainly
I am working with editing and producing movies and do rendering a lot.
Is it effectve or I do need to upgrade my hardware?
If answer is yes, then please advise.
Also does overclocking will do any help or no use?
Do I need to upgrade my hardware?
Replies are highly much appreciated.