Well, in Shogun 2 being able to overclock the CPU can make a big difference since the minimum frame rate (e.g. while zooming in close onto a big battle) is heavily limited by single core CPU performance. Overclocking an i5-2500k from 3.3Ghz (3.7 std boost) to 4.5Ghz gives you about 20% higher performance or the difference between minimum of 25fps and 30fps. With high-end cooling you can get even more out of it and also run the CPU whisper quiet while it's not doing much.
For proper multicore applications like video-encoding the relative gain can be even larger since the standard boost of 3.7Ghz is usually not sustained if all the cores run at full load for a while.
Still, back in the days, you could even get 50% more performance from some CPUs relatively easily (custom cooler, somewhat more voltage, bus speed up and speed divider for RAM down). E.g. you could take a Celeron 300A from 300 to 450Mhz or a C2D 4300 from 1.8Ghz to 2.7Ghz which I used for almost 3 years without problems.
That overclocking can be easier nowadays is primarily because there is now automatic overclocking software which can do a decent job up to a medium overclock. The higher you go the more you have to fine tune the various parameters.




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