I see that this thread has generated a lot of interest, but I can also see that there are a lot of misconceptions about what this is actually doing and how these CPU actually work.
1) You are decreasing the resistance to the current and therefore increasing the voltage applied to the cpu, obvious to most of us, but why does this work?
2) A clock generator sends a fixed frequency through the CPU, expressed in mhz, 133 mhz, 166mhz, etc. Along this frequency is the binary code of 1's and 0's. 133 mhz is 133 million 1's or 0's per second.
3) The CPU "senses" whether or not this signal is a 1 or 0 by the height of the signals wave or trough, the top of the wave being a 1 and the bottom of the trough being a 0. If you increase the frequency, ie overclocking, say from 133 to 166, then the height of the waves decrease... if the wave height of the electrical signal gets too low, the CPU no longer can "sense" if it was a 1 or 0... the result is a crash. Overclocking frequency alone will not kill a CPU, this is either due to heat or overvoltage.
4) The reason we up the voltage is to increase the wave height back to its original specs. If you overclock from 166 to 184 and it stops working, ie wave height no longer within spec, then uping the voltage to 1.9 or higher may bring it back with spec. and it works fine.
5) That being said, not all silicon is fabricated equal. Different runs have different qualities and so long as it is within tolerances, CPU's get cut and sent out. It is no secret that the big companies like Intel often produce their lines of CPU's from the same silicon wafers. A small percentage are superb quality, and get marketed for the flagship CPU models. 3.4 ghz and such. They continue down the line until the crapy ones get called 1.3 ghz celerons and so forth. (This is just a rough idea of the process, the point made is that there are varying degrees of quality and this quality dictates the overclock and overvolt potential).
6) This then means that just because you can ONLY overclock to 172mhz on your GP, doesn't mean that you are within SAFE voltage tolerance. IF you have crap silicon, it may take 2.1 volts to get to 172mhz. NOT SAFE. Or if you are f@#$@ing lucky, you can get 184+ on the stock unmodded voltage. It's all luck and chance.
7) What needs to be done, REGARDLESS of what overclock you achieve, is checking the voltage after every graphite attempt. Apply graphite and then blow off the excess loose particles, THEN check the voltage to ensure that it does not exceed 2v.
8) Lastly heat dissipated in watts is a function of frequency X volts, and every CPU has its thermal limit. Increase one or both it increases the heat. Heat is caused by resistance inside the CPU, and as the heat rises, so does the resistance (one reason the wave height decreases), causing your game park to run fine for 10 minutes, but as it heats up the resistance increases and the wave height drops, thus 1 and a 0 become unkown and it crashes. If possible, maybe cool your cpu, aluminum or copper. Secondly, overvolting damages the cpu when over tolerance, the little gizmos inside only handle so much potential from ground to positive.
As for the number on the resistors DistWave, they are probably the resistor value expressed in multipliers just like colors are on barrel types.
If you do this mod, blow off the excess dust to help "stabilize" the resistance that you get from effectively running graphite in parrallel with the resistor. Don't leave a lot of loose dust in their to shack around and vary the ohms.
Enough for now, happy modding. If you are careful about the voltge, you shouldn't hurt a thing.