Increasing the cpu cycles improves performance in any cpu hungry program, such as music production. Overclocking ram on the new I7's and the z77 or higher motherboards is dodgy at best. It all depends on the quality of ram and the cpu motherboard and ram don't tolerate out of spec timings very well with these set ups. I would rather get faster ram then overclock it. I currently have mine at 4.5 ghz and there is a noticeable difference in reasons performance. If you do overclock hard you need a good case, airflow, and cpu cooler as it will get hot, and quality thermal paste, and a very stable power supply or it will all fall apart.
Windows 8 pro I7 2600K 4.5Ghz Asus z77 sabertooth 16 gb ram crucial C300 SSD 256gb