Honestly, I tried every BIOS under 1.5 and I had the best results with OC on 1.1. I too use a 720BE. I just couldn't seem to find the same stability with the later release BIOS. Maybe its better with the 1.6-1.7x releases, I'm not sure I haven't tried them yet. I think its going to vary from machine to machine, but try 1.1 and see how your OC stability is.
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