It would be great but:
Issues found so far
No IGPU ( I have official BIOS and on Hero, IGP is not working at all on 6600K and 6700K )
No dynamic change of CPU frequency
No C-states
No Turbo Mode
CPU temperature reading is incorrect
AVX instructions have very low performance
Windows XP ACPI not supported
Info about it was already on the forums couple of weeks ago. So far ASUS hasn't fixed BIOSes ... so yes, you can overclock non-K CPUs but it's not always working as good as you could expect.
For me guide linked in that article is pretty pointless.
Somehow ASRock made it right but to OC non-K series you need OCF board. It's above the budget for all who wish to use it only for games and think to save some money overclocking locked CPUs.