It will give you a really high voltage to keep the CPU alive. Basically it's 4.5Ghz for a low bin CPU they give you on auto. you CAN do this, then lower the voltage gradually. It will likely feed more voltage than needed. On most boards, this is what these modes do but I have surprisingly seen some that do the OC at a similar voltage to what you'd whittle it to with some elbow grease.
The main difference is that. Generally, auto OC gives a higher voltage than needed which makes more heat which (potantially/can/may) reduce life of X part (cpu).
But, on the upshot, with Sandybridge, auto OC almost always holds stable. Just too high voltage usually. Or rather 'higher than you actually needed in all likelihood'
Is this the P8Z68 deluxe or P8Z68V Deluxe btw? What voltage under load does HWMON give you with this auto OC. Also is it 4500 or like 4587? I don't like to move BCLK. Asus auto OC does.
Hope that answered your question.
My opinion, is that its so easy to do yourself by printing the 6 steps and spending 3 minutes in your bios, that why wouldn't ya? Auto OC does a similar thing and then you have to go back in and start lowering the Vcore on the cpu to tweak anyways. Zee guide works. I've not just done it once or on just one cpu/board. Even if you auto OC you still have to run thru guide section 3, and its not any easier. You sound like you can do it manually brother.
On my box it just says its a P8Z68 Deluxe. This is my first ever build, my friends call it a **** around kit, and I did put some money into it. I joined here so I can learn how to overclock safely. This is my first venture into this kind of thing like BIOS, overclocking etc... Some of the terms I have no idea what your talking about like BCLK, HWMON, and theres more. This weekend I'm going to give it a shot when I can spend time thinking about it. I came this far building it, and I was really uneasy dropping this king of coin for this build. What I would like to at least accomplish is learn how to overclock properly, and find out what my system can do. Thanks for your reply and the cool thread to give me the confidence to try.
Fred