Even though we can't really replicate this here in the States yet, the Samsung Galaxy SII got some over-clocking action from the folks at XDA Developers. They not only managed to get the beast up to 1.5GHz, but they posted the instructions and the Kernel to share with the Android community. Amazingly, when over-clocked to a stable 1.5GHz, the flagship device achieved a phenomenal 4062 quadrant score! For those lucky members that happen to live in a place where they can get the dream-device, below is a video of the overclock, and the instructions for ratcheting it up.
The usual disclaimers apply here. Only do this if you know what you’re doing. Though the long term stability/reliability of similar overclocks on other Android based ARM devices is known, this software is provided with no warranty, and I can’t be held responsible if you fry your device.

1. You’ll need the latest version of odin3 and the USB drivers for Windows. jutley’s post on debranding the phone has links to both: http://forum.xda-developers.com/show….php?t=1064894
2. Grab the kernel. It is a tar file for odin with the overclocked kernel and a initramfs with proper modules for the kernel: http://setcpu.com/files/galaxysii_oc_v1.tar
3. Reboot the phone into download mode using ADB:
adb reboot download
4. Flash the kernel using odin3 by placing the tar file in the PDA section and pressing "Start."
5. The phone will reboot automatically.
6. Use SuperOneClick to root your phone if you haven’t already. ADB should have root access with this kernel so it’ll just work.
7. Grab SetCPU and try 1.504GHz.

Source code (with relevant commit for the overclock. I also enabled the interactive governor in the config): https://github.com/coolbho3k/galaxysii_oc
Source: AndroidPolice and XDA Developers