No it initially was when I pushed it to 750 without upping the voltage, using the latest beta 270 drivers from Nvidia. Then I realized in order to allow smart doctor to change the voltage, you have to use Asus's own version of the driver.
After that, I pushed it to 1.013v and 854mhz and upped the memory alongside it, but I could see artifacts so I set it to 1.000v and 814mhz and it's been working fine.
I installed evga precision and have it report on-the-fly temperatures, individual clock speeds, utilization, mem speed and usage, etc....so I can see what it's doing all the time. As we speak, it's brought down gpu1 to 51mhz and gpu2 to 405mhz, with mem1 at 135mhz and mem2 at 324mhz. Kind of like intel's speedstep feature. But once you launch a game it goes full out.
I recently bumped the fan from 85% to 91% and even under load it doesn't go above 79 degrees celsius. So it's a pretty decent setup.
I tested with on the fly OC'ing to make sure I'm seeing a somewhat linear increase in framerate and I did. And if it wanted to throttle, it would have done that instead of causing artifacts and the random "driver has recovered" errors when I ran the clocks a little too high.