I mean overclocking the entire motherboard. Perhaps just the buster part could be overclocked, I don't know. My friend Frank Brana overclocked his A2000 denise (and fried a pair of them) and got 31Khz video (but he told me demos didn't look good)
Buster runs off the CPU clock, so raising that would overclock the CPU section and Buster. The chipset section has its own (28 MHz) clock and runs asynchronously.
Overclocking will speed up things (like CPU, bus, ...) while getting you closer to the edge. Once you've exhausted the tolerances in your system and exceeded the inherent speed limit you're outa luck and crash the system. On the 3000 the probable first point of failure is the SCSI adapter - don't try with your 'good' drive.
Depending on whether the Z3 bus is the bottleneck for a given operation and how the PIC copes with the higher speed, your system might get faster - or not.
IMHO, a much better approach to speeding up the system is to look at current limits. E.g. I've been told that you can significantly speed up motherboard fast RAM by using 50 ns or 'very good' 60 ns RAMs and setting Ramsey to 16 MHz mode, thus bypassing a wait state. Probably this would also speed up Z3 DMA and PIO operations.