I was probably doing something wrong, I think looking back at it I think it was all to do with my ram (bad pairs, then voltage for new stuff),
I only really made the proper effort to overclock when I got my gigabyte p45 and q9550 combo.
Along with the memory I really disliked the p5kc bios, I probably shouldn't of made the comment, you should be fine,
I just really didn't like the p5kc so when I saw it I made a sly comment, didn't have any time to say anything constructive
.
I response to the question asked is, I think you should give it a go, maybe not leap straight into watercooling it,
see how far you can get on air, if your being stopped by a heat barrier I think then watercooling it would be beneficial.
Depends how far you want to push it, 3.6+ should be achievable with watercooling on water with 400fps, depends how bad the vdroop and many other factors.
Good luck