Yes, listen to Neon, look at his signature, he's almost 1.5GHz over stock speed!!
The Extreme4 and Extreme3 are very similar and popular for overclocking.
Gen3 means Ivy Bridge, so it has PCIe 3.0 support if you have an Ivy Bridge CPU, and good overclocking capabilities. I just prefer ASUS boards as they've never let me down but that doesn't mean the Extreme3 isn't a good board. Look at the reviews and do a search within them for whatever CPU you plan to use and you'll see a large number of totally pleased OC'ers.
Example: Searched "i5-2500K" within Extreme3 Gen3 reviewshttp://www.newegg.com/Product/Product.aspx?Item=13-157-271&SortField=0&SummaryType=0&Pagesize=10&PurchaseMark=&SelectedRating=-1&VideoOnlyMark=False&VendorMark=&IsFeedbackTab=true&Keywords=i5-2500K&Page=1