Overclocking a chip CAN have consequences if not done properly. HOWEVER, if done correctly, there are no adverse side effect whatsoever. Let me explain:
When OCing a processor, you are increasing the amount of electrons moving across a charge plate and silicon resistor in a given period of time, measured in Hertz (Hz). Thusly... this requires the multipliers or data BUS speed (also known as Front Side BUS) to be set higher. Also, voltages need to regulated properly in accordance with silicon resistance levels and dipole arrangement (aka, the core design of the CPU). Now, taking into account that 88% of processors use G54 silicon wafer design (the exception being ARM processors made by Texas Instruments), that design implements a voltage "slosh" level. Basically, when you increase the voltage, the electrons "slosh" in a pit near a charge plate or diode, causing a leak (aka HEAT). HOWEVER, with proper cooling the dissipates the heat quickly and efficiently, then the entropied heat is a void issue at that moment. Now, at a certain point (usually a very high one), voltages can damage the internal silicon diodes and wafer structure of the chips. This is RARE, and requires PURE STUPIDTY when altering the CMOS settings or a massive jolt from the PSU. Overclocking does not blow up CPU, over watting does, which happens when you are stupid and don't know how to build a PC. If Ocing destroys your power supply, then that means you were foolish and didn't buy a large enough PSU in the first place (being that OCing only uses an additional 5-15watts!).
AMD doesn't do OCing! Their chips are manufactured at levels and clock multipliers set properly. If anything, Intel simply raises the multiplier and creates exorbitant amounts of heat with their poorly designed Prescott 31 pipeline long piped icky nasty piece of GARBAGE.
And it's about quater the price of the 4800, but if money is not object, then I agree with TRDCorolla. The 4800 will overclock to the high heavens and above (as long as you have appropriate cooling and other hardware 
