Yes, it's a legitamite way to OC. But I wouldn't trust it if my life depended on that OC. Okay, a little exaggerated but I still wouldn't trust it. No "automagic" overclocking for me!
To tell you the truth, a 3%-10% increase in processor speed isn't going to give you a hefty power boost. However, this could be a good way to get your feet wet.
There are lots of good overclocking guides on the internet and most, if not all, are attainable through google.
BTW, the success of your overclocking adventures depends heavily on the processor, RAM and motherboard, so make sure all three are ready.