Yeah maybe, but the system has hung again with no GTX480 Overclock. Hmms...
It should be ok at stock, did you reinstall the drivers? Sometimes that helps.
It could be power, you got an i7 overclocked in there? Probably pulling close to 300W plus a GTX480 which will pull near 300W on its own when under heavy load, add a few bits and pieces on the rig and your well into the upper, non efficient end of what a 750W PSU is capable of handling cleanly. Age of the PSU could have an effect on its efficiency and performance as well.