Do I really need to overclock a i7 2600(k) for HD editing in CS5?

Dear All
After reading a lot in this forum (thanks to everyone!), I pretty much decided to buy the i7 2600k or i7 2600 (I know the difference) for the system I´m putting together.
I´ll have a student´s edition of CS5 and will be using Premiere and AE and have one huge doubt left:
Do I really, really need "Overclocking" for HD video editing?
A few background infos so you know who "I" refers to:
I´ll be doing small projects for my own private amusement, most of them likely to be less then 20 minutes long, but effects/filters/layers will definitely be involved.
I´ll buy a Nvidia 550 for cuda, the three "obligatory" harddrives, 16 GB of RAM...
Think of fiction short movies, music videos etc. and you get the idea.
I am not a hardware enthousiast or a very impatient person - if a final rendering/conversion into another format takes 8 minutes instead of 6, for instance, I do not care.
What I DO care about is smooth editing and previews when working with HD formats (yes, also the "difficult" ones). I don´t want to be on the top of any benchmarks, but
the performance with HD still should be "good"...
I have no previous experience with OC, but I understand it´s quite easy with this last generation of processor and motherboards.
Yes, I am tempted to get more "Bang for the buck", but I am also reluctand to spend more money and time if I don´t really need it, or if the difference will be so minimal I won´t notice it.
As I understand it, for OC I´ll need to get a better case with fans, a better cooler, better power supply, better who-knows-what... all decisions I need to take now...
I also wonder:
- Is it still true that my processor/system will have a shorter life spam with OC?
- In case I don´t overclock, can I go with the factory cooler of the i7 2600 or is it still wise to get a better one?
- Any suggestion which Z68 motherboard to buy with and without OC? (should be around 100-150 Euros)
Please allow me this additional question in order not to open another threat just for it:
- I want to get  Kingston DDR3 4GB/1333 RAM simply because it´s cheap - is that okay with the i7-2600 or should I go for 1600 instead?
Thank you so much in advance for any kind of suggestion, I hope your answers will be useful for more users out there.
Andy

Thank you, Harm. Does everyone agree? I´d be happy to save the money for all those fans...
The time issue is really relative. My last editing adventures laying about a decade back when one could go for a coffee when applying a filter to a couple of minutes in PAL
and even a brightness filter applied to a short shot would have me staring for endless seconds at the screen. I hope these days are gone, EVEN with HD?
I´m just trying to imagine how and when OC would affect things while using cs5, or if it would affect the "smootheness" of the editing process at all.
As said, a conversion into another format or a final rendering that takes many minutes anyways is not a problem for me.
But say I want to apply a filter to a couple of seconds, or render an AE effect, would I have to "wait" at all for previews with the modern i7 system I want to build?

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