I am still trying to figure this whole overclocking thing out! Now with the I7 unlocked, CCC and the HyperX. I am supposed to be able to do it?
Sure, It'll work with your setup, but if I were you and depended on that PC for my work, then it would stay stock.
If you do OC it, then do it in tiny increments and verify system stability with benchmarks after each tweak. (that way you'll know how good your results are too) Keep a written log of the changes you make to the BIOS so you can restore settings later when you overdo it.
That cooler's plenty good enough for OC'ing that rig.