dangerous, hmm well you could kill your computer :/
it's ok as long as you read alot and carefully, and take it steady.
some ppl give it a miss and say it reduces the life of the components. this is true to an extent but the part will be obsolete before it dies from overclocking

so i say fry the chip
example my 2500+ can run the equivalent of a 3600+ chip. thats a heck of a boost for no extra money