Need to know if it is "safe" to go bove Intel specs of 1.35 for 32NM chips....  I am so darn confused...  I need more volts but do not want to fry chip in 1-2 years.  I do not mind chip dying in 3-4 though...  I m on heavy duty H2O on everything, just can handle frying my baby...  Please Help, and do you all use higher multis or cobventional bclock method?  Pros and Cons of both?  Your help is appreciated!!!

First, the word 'safe' and overclocking shouldn't go together, if it was then Intel shoud have no problem gauranteeing higher speeds, but they don't.  There's an old saying on the internet, forget who first said it, "if you can't afford to replace something from overclocking, don't do it".  We all take risks to do what we do, the benefits outweigh the disadvantages; although many have taken the benefits for granted and disregard the disadvantages.
 
Second, Intel specs only refer to stock speed operation because each CPU varies in quality and thus has different stock Vcore requirements.  If it doesn't make the cut (VID range), then it won't survive the assigned warranty of 3yrs of 24/7 nonstop use (or 6yrs at 12hr/day, etc), and they wouldn't bother selling it.   While not a scientific study, many of the best batches came from CPUs with stock Vcore in the middle of the VID range.  Overclocking and lifespan are related, I have a link in my sig if you want to give it a read. 
 
Hypothetically, let's say you want to keep your 980X running for 3yrs and only use it 8hr/day max, then maybe the neighborhood of 4.2-4.4Ghz is appropriate provided your batch lets you get up there with the least amount of extra voltage.
 
Third, multiplier overclocking is easier to impliment and test as Bclk variation puts strains on the memory as well as CPU, where you have too much to keep track of.  Just bump up the multi by a few, restart, if it BSOD's then up the Vcore only by 0.025 or so and see if it boots.  If so stress test it for an hour or so.  Keep doing it as long as stress load temps stay below 85C on the cores until you get a speed you're good enough with or is your CPU's limitation.