I would definitely try for more. Intel's spec sheet for E8400 (identical to the E3110 as far as I know) says anything higher than 1.45V will cause damage to the processor. Of course, there are people who say less can do it, and people who've run 1.5V and seem to not have any degradation, so be careful with the voltage. I personally would go to a max of 1.45V, but thats just me. I'd start by tightening the RAM timings to 5-5-5-15 (unless that is the limiting factor in the overclock). Then I would up the voltage a little and see how far the chip can get with 1.4V and safe temperatures.
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