In my opinion, if you have an overall great computer you shoundn't overclock it.
I have a good processor and amount of RAM but my videocard ins't that great, so I overclock only it. Sure, when the rest start getting bad too, I'll OC it or replace them.
I think you should only overclock something if you really have a need for it. An exemple, if in you computer you can run a game like Oblivon, for exemple in 60 fps (it's great) and overclocking it you would get 70 fps I don't think it's worth. However if in the same game you run in about 20 fps (like Oblivion in my PC) but overcloclocking you can get something about 30fps I consider it a great imrpovement. I belive I've made my point.
Of course, you can overclock something in order to get better graphics, which I think it IS worthwhile but you should know that overclocking will shorten the life of your hardware, so I only overclock when I'm about to play a game, after I finish playing, I put my PC in "normal" condition.