Overclocking!

Hey I was thinking about trying this since it would most likely speed up my Ps2 Emu (even if it'll be just 2-4 FPS that's better than nothing) but first I need to know the advantages and dangers of overclocking so if someone would be so nice to explain this to me in details I'd much appretiate it and +rep if you told me how to do it since I have no friggin idea. My PC spec:

AMD Athlon 64 X2 6000+

not sure if you need more info but I'll post it just in case:

1GB ram
Radeon HD 2600 PRO

If you need any additional information just tell me. Thanks in advance!