Do I have a real reason to overclock?

right now I have a 212 installed on my 2500K and I have it overclocked to a modest 4.2Ghz. On load, I get about 48-50C. This was my first time overclocking but I was wondering if it is worth it to overclock to 4.4k or 4.6k and if I would see any real difference.

I play MMOs and stream on the same computer and it gets annoying in some areas where the frames drop to 30-40. I'm sure some of it is due to game optimization, I still wonder if further overclock would improve this.

Your temps are really cool, so it sounds like you got a bunch of headroom to go with the overclock so long as the overclock passes a Prime 95 or Intel Burn test. As always watch your temperatures when running either of the two programs, especially Intel Burn Test.

In my overclocking experience a increase in CPU clock rate brings up the min frames per second quite nicely: http://www.hobbyware.org/Computer/Gaming Graphics/gaminggraphics.aspx (CPU Heading)

that happens with many MMO specially those where are insane amount of character at the same time all fighting and lot of effects showing at same time.. more even if are pretty old games optimized for run at lower specs for many users but no for high powered rigs, and for sure you will improve your performance but not too much if are due to bad game optimization...

Of course you do...for MOAR FRAMEZ MOAR POWA.

On a more serious note though, yeah, it will basically give you totally free performance improvements. As stated above, your temps are excellent, so I'm sure you do have a large amount of headroom. Give it a roll, if it doesn't do it for you, just dial it back.

MMOs typically benefit more from CPU speed improvements than most games for frames in my experience.