You should be able to manually OC considerably higher than 4200 MHz. when you get around to tuning your system.
I have not found any performance advantage to BIOS V1.70/1.80/1.90 in Win 7 but I do know that Asrock indicates that 1.90 is required for Win 8. BIOS V1.90 also does away with the stupid John Fatality face in BIOS graphics and boot, etc. and is much better IMO.
The silver arrow should work well. I've used a lot of Thermalright HSFs over the years and they are top quality IME.
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