Good question! I have a K chip and its worth the extra ~50$ or whatever it was if you want to overclock. I messed with the Bclk a tiny bit, and the best I could get [and still have set to] is 100.3 mhz. So im really running at 5030mhz. In the grand scheme of things that is absolutely nothing, if you want to overclock buy a K series chip. If you dont then dont expect to oc much.
Of course I could be wrong and it could be that my motherboard does not like a higher blck. The board I have wont post beyond 100.3. I did try 110 and it took about 15 power offs to get it back on @ default settings...
Regardless, if you dont buy a K Cpu you are tied to Oc via the Bclk and your not going to get much either way out of it. Even 110 Bclk is a small oc.