Sorry Rev. Joe, but that is blatantly untrue.
You need to read up on what is known as binning and understand what overclocking truly is, it's not just simply cranking up a number. Yes, you can overclock just changing a number, but the how and why it works is what you really need to understand before making statements like you did.
At any rate, we have had some Optimus V's running at 864 for the better part of a year with no issues. Mine has been mid 700 for an entire year. Sure you could fry a processor overclocking, however that is only if you are careless, and on cell phones the chipset won't usually overclock high enough to do serious damage anyhow. We had to make a special kernel just to hit 864.