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Is that correct? I thought it basically would just boost to whatever the board will throw at it? I'd be happy to run mine enabled if I knew I wasn't killing my chip. It's really the only drawback of these chips, in that they are crap when it comes to clockspeed in general and overclocking. Hopefully the new non mobile based node will mean it's more back to traditional overclocking you'd expect with say an Intel.
Have you looked at guides for your motherboard on how to enable XFR?
I think XFR/PBO is a case of Off, Auto and Enable. Auto boosts to within the CPU's power parameters and if you set to enable, it's down to how strong the motherboard VRM's are, however it will up the voltage outside of AMD's 'safe' settings. I tried it, was getting spikes of 1.51vcore and generally sat over 1.4vcore when under load, so put it back to auto. Performance was increased for sure, but nothing mind blowing so best left alone imo. If ASRock updated their BIOS to have a level of XFR for less to more extreme modes, that would have been better.
Basically, I'd leave overclocking alone on these unless you need an all core OC, then do it to 4.2 if worthwhile... for me it wasn't, as I only really game on my machine so need the single cores boosting as high as possible.