Considering that Dell is the only company that locks out clockspeed via the BIOS, I am not really too concerned. Now you can overclock it just like any other 'normal' graphics adapter. Besides that, I have overclocked EVERY video card I have ever owned. Never once have I had one fail due to my overclocking carelessness. Dell locks out those features for two main reasons, one is that they can make a whole lot more money by selling a 7900GS and a 7900GTX. Stock GTX speeds alone are enough to convince most people that they would need that card to game the best on... Take away the BIOS lock and your customers will realize that all they need to do is overclock the hell out of the low end card to acheive the same results as buying the ridiculously expensive upgrade...
Number 2 would be of course to prevent heat related failures. These things don't have much room to breathe as it is, and pumping the clockspeeds up will of course change the heating pattern significantly. Of course, most people that are willing to overclock their card in the first place already know to keep an eye on temperatures.
I say just go for it. If anything, you can easily flash back later if you so choose to want the restrictions back. No biggie really, but if you like to tweak then why not? I mean the fact that I was able to gain an additional 1200 points in 3dMark06 shows that these things are severely hampered by the low specs Dell ships them with...