CPU Overclocking help

So i've got a 5820k running at 4.5Ghz @1.29V, until recently my temps under full load with it were 80 degrees, so i didn't try to OC any further. i went inside my PC and shuffled around some fan and water pump headers on my mobo and now I'm getting 55 degrees Full Load....?
I've heard that OCing above 1.29V is a bad idea, but I've also heard that anything under 1.4V its absolutely fine. I don't care about fan noise (i leave my fans on at 100% all the time) So i was wondering if anybody thinks its worth pushing higher, maybe to 4.7Ghz or something.
Thanks :)

What exactly are you trying to accomplish? if its just gaming, then i'd crank it back to stock and let it do its thing and let it live its life rather than burn it out. An extra 3% FPS or whatever you can get out of OC'ing isn't worth it. BTW I think your system is awesome, but OC'ing whats already at the top end wont make a game anymore fun. And unless your under 60 fps, your not going to be able to tell the difference. So whether your running 100fps or 112fps will never come to mind while actually playing. Save your gear, its easier on your wallet and the environment.

For fun last year I built a A10-7850K, coolermaster water cooling, 8GB 2400 ddr3, CHEAPEST 1tb hd I could find, asus a88x mobo, rosewell 600w PS and a DONGLE for WiFi connection. No video cards required cause its a APU. While I didn't know if this thing would last very long or what I could get out of it by overclocking it, I actually ended up running the CPU at stock voltage and the GPU bumped up just a little till its stability started getting shakey. Left RAM at 2400, OC'in wasn't showing any significant performance gains. So in the end, It more than surpassed my hopes. It runs battlefront on mid settings at 80fps, and iracing on max settings at 120fps. The eye can't really detect anything over 60fps, so does it REALLY matter to me... for the $500 it cost to build this computer.. no. Could I afford to build something wilder, yeah. But I've grown to like the simplicity of this system. I use the eyes rate for a gauge of whether something is worth the $$ or risk. If I can't SEE the difference, there is no point in doing it when it comes to computers.

I've played the OC game on and off for several years. When I do try overclocking, I usually shoot for 10% clock increase and consider that a success. If you are already at 4.5 GHz, I am not sure you will even notice the difference going to 4.7 GHz.

I have no insight into the voltage limits of your chip, but if I were you I'd run what you have and be satisfied.

well the overclocking isn't really directly for any particular performance increase in games, just personal satisfaction :P though i do play alot of CPU intensive games. For example total war atilla has an end turn phase that in the late stages took this comp about 15 seconds to complete(at stock) now its more like five seconds. It's just very satisfying to see even a superfluous increase. I lock all my games at 60fps anyway to conserve power since i only have a 60Hz monitor so >60fps makes no difference.
I'm a bit of a graphics whore, so i just lock everything on max settings (apart from AA, motion blur and film grain)
People can defo see above 60Hz, and well above 120Hz, don't quote me on this but i read somewhere that a study was done and the human eye is capable of detecting near 1000Hz refresh rates. Though i believe the gains are miniscule above around 150/200hz.
60Hz Vs 75Hz is defo noticable and 75 looks gorgeous compared to 60 :P though i personally have never seen anything above 75.
might have been a good idea to mention this earlier but while i do right now only play games on my comp. It seems a waste so i plan to start a youtube channel or something like that, or stream to twitch if i can get the software working (which i have had no luck with so far) and the higher clock speeds will defo be useful for that.

your probably right Talos. I'm certain i wont notice any difference between 4.5 and 4.7, but if its safe then why not right? :P do you use intel or AMD? intels K series are much much easier to OC than AMD chips or intel chips without the K. Hence the OC
I just realised i didn't say in my original post. the 5820k runs at 3.3Ghz stock. and its a 6 core Haswell-E (in case that matters)

And thanks for the replies guys :)

I just built a machine with an i7-6700k and I run it at 4.6 Ghz. I would have been happy with 4.5 Ghz. When I say I've been playing the OC game a while, I remember pushing the 386DX-33 to 40 MHz when AMD released the 386DX-40.

I guess thats resolved then, thanks for the advice :)