Well they got to 4.1Ghz with a 3ghz P4 a while back using the Prometia water cooling system. They should approach 4.5-5ghz with the same setup but this time using a 3.2Ghz CPU.
Also, they upped the voltage and amperage, which will shorten the life of a lot of the electronics. Not that that matters, the frozen condensation would prably destroy something long before the changes in voltage and current affect anything.
See this? This computer is not long for this world, trust me.