The answer is yes, but this answer has to be qualified...
I have heard (alas only second-hand) that, if you install the later BIOS releases - which add support for 3rd generation processors - the support for the overclocking of 2nd generation processors is more limited. Whether this will affect what you want to do is dependent upon the changes that you wish to make. Just raising the CPU ratio should still be supported.
Hope this helps,
Thank you for joining the Intel communities.
- N. Scott Pearson is right you can overclock with this motherboard and using that k processor.
Please bear in mind that overclocking will void the warranty for your unit, please see How to Overclock Your CPU with Unlocked Intel® Processors
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