You can now choose from one of five overclock presets in raspi-config, the highest of which runs the ARM at 1GHz. We are happy that the combination of only applying turbo when busy, and limiting turbo when the BCM2835’s internal temperature reaches 85☌, means there will be no measurable reduction in the lifetime of your Raspberry Pi. We’ve been doing a lot of work to understand the impact of voltage and temperature on lifetime, and are now able to offer a “turbo mode”, which dynamically enables overclock and overvolt under the control of a cpufreq driver, without affecting your warranty. Overvolting provided more overclocking headroom, but voided your warranty because we were concerned it would decrease the lifetime of the SoC we set a sticky bit inside BCM2835 to allow us to spot boards which have been overvolted.
Since launch, we’ve supported overclocking and overvolting your Raspberry Pi by editing config.txt.