You won't be power cycling anywhere near frequently enough for it to matter.
I tend to feel the opposite of Modelworks, that you're better off not waiting to turn it back on because if you wait that means you are letting the parts cool down more, then heat up more/more-rapidly. Waiting doesn't decrease the surge or dip, if anything it would increase it since the longer you wait the more likely you have completely drained the capacitors, more likely the drives have completely spun down, though really these things will happen even with any very short power off period versus just a crash reboot or pressing the reset switch.
Either way, it's still not likely you'd be doing it often enough to make a difference, there are plenty of systems out there that get booted from cold-off a couple times a day for 10 years so suppose you powered off and on again 700 times before you were finished tweaking... then maybe you only have 9.x years left? Depends on the extent of overclock too, if you push it to the point where the parts are running really hot, then you have even more expansion and contraction every time the system is allowed to cool down from a more lengthly off cycle, but still only in extreme cases should that ever matter (or if you happened to have certain nVidia mobile video chipsets with solder bump issues?).