When you're doing memory overclocking you should run something like 3DMark, because the 290 has memory error compensation. So essentially, when you overclock the memory, it will re-try the failed operations reducing performance even though it will still appear functional. So you have to find the sweet spot for memory oc as opposed to maxing it out. 3DMark will show you whether the score goes up or down as you change clocks, letting you know whether your mem OC has error compensation kicking in or not
Core overclock you just max out like I had written earlier.
You will get the majority of your performance gains out of the core overclock, i'd say its either 75/25 or even 80/20 in favor of the core clock. At times you'll find that you can get a bit more core clock by reducing memory clock just a bit and that trade off is usually worth it on the 290.
This is why overclocking is fun!