I don't think that's bad for your system, but go ahead and overclock the memory. That's the real bottleneck for that card and should give you better results than overclocking the core.
You also better let 3dmark or someting loop at least overnight to make sure you end up with a stable system.
Oh, and I think the CPU will hold you back. Maybe you should upgrage that when you can get a deal on a faster processor.