yes and yes. dont try to OC the i5 on the stock cooler though, you will need a better cooler like a hyper 212. to get to 4.8ghz you need some serious cooling on those ivy bridge cpu's and 4.8 would be on the verge of needing a good watercooling unit. 4.5 is about as far as you can go on a high end air cooler. i wouldnt worry about it though your gpu would be more of a limitation for your fps. I have the same gtx660, you cant overclock it much further without a bios mod. get msi afterburner and you can OC the gpu's memory by 300mhz quite easily. you will be lucky to get more than 50 more mhz out of the core clock without a bios voltage mod though, software voltage controls dont do anything on these cards.