I would highly advise against any CPU tampering practices with this gen of phones. They can get things done on their own with plenty of power to spare.
As a general summary, just because your phone is capable of 1.5ghz doesn't mean it runs at that rate the entire time. It dips down to around 300mhz during downtime, and only cranks it up when necessary.
Before, people would do this to get a little more power out of 600mhz phones like the OG Droid. Apps were starting to become more demanding, and the little OG couldn't handle it too well, so we'd need to find ways to cope while still clinging to our phones of yesteryear.