Weird boot up after oc


Sep 28, 2002
Hi I am a noob at oc and recently built a system with the following:
p5be mb rev. 1.01G
intel e6300 cpu
bfg 7600gt oce vid card
2 - 1gb sticks of Corsair xms2 twin2x1024a-6400 memory
According to reviews the components of this system are supposed to be great for overclocking. I was told one quick way to get more out of my system was to raise the cpu frequency along with the dram setting. Yet I have only been able through the bios to raise the cpu frequency no higher than 279. If it is set any higher than that the system on boot up boots for 1 second, shuts off for 5 seconds then boots. The psu is a new 500watt Ultra and should be more than enough for what I am running. So I guess I have 2 questions, the first being Is this a legit method of oc without changing other settings? If I need to change other settings to gain more from my pc I will do so using some great posts I've seen on oc basics. The second question, will the "weird" boot damage my psu or any other hardware? Sorry for the stupid questions

Thanks for the help in advance