I have an XP-M 2600 as well and was running it at 2525 (12.5 X 202) with 1.8 volts. It was prime stable for an hour with 1.75V, but needed 1.8V for overnight stability. I was using a lapped Thermaltake Extreme Volcano 12 HSF with high flow/noise case fans to keep things cool. My CPU temps were 32C idle and 42C max load with system temps of 25C.
I got sick of hearing a vaccuum cleaner sitting on my desk so I decided to swap out my HSF and case fans. I added an Enermax fan controller and changed the HSF to a lapped ThermalRight SI-97 with a Panaflo 92mm L1 fan and my side intake to an Aerocool 80mm, my front intake to Panaflo 80mm L-1 and my top exhaust to a Panaflo 120mm L-1. When I did, my machine would no longer boot, so I backed down my processor to 2400 and it booted no problem.
I did not notice any major performance decrease dropping from 2525 down to 2400, so I decided to reduce the voltage to 1.70 and have left it there ever since. My CPU temps now are 36C idle and 43C max load with system temps of 35C. I went from having people ask me to turn off the vaccuum cleaner so they could hear me on the phone to buddies mouths gaping open because they can not believe my machine is running this quiet.
I see no problem running XP-Ms at 1.8V or less on air, but anything more than that, I would recommend some serious cooling which usually means serious noise.