1/. Speed/ performance increase is the goal of overclocking
2/. It can do if certain parameters are exceeded
3/. A well ventilated tower is a must, also aftermarket cooling for components is recommended.
4/. Certainly overclocking will provide better performance from lower priced components though there are limits (and extra costs) associated with it.
Originally Posted by 01001010
It shortens the lifespan of the hardware you're trying to overclock.
Not unless you run highly elevated voltages/frequencies 24/7. Most average overclocks will have no discernable effect on hardware.
Originally Posted by JogaBonito1502
I mean...by the time it dies, you're probably out buying a new one anyways.
this is correct, as I said above, moderate overclocks are pretty harmless.