Overclocking and component life span?

[Insanties_birth]

Okay guys I'm arguing with my brother on how safe it is to overclock, I've got an i5 760 2.8 GHz and stuffed it in with a GTX 460 (hardly a hot card) and they're in a haf 932 so a pretty good case for cooling. I want to overclock it to a very small 3.2 Ghz just for a little extra speed and if I get a Titan Fenrir cooler down the line then to 3.6 GHz, baring in mind I also used some Arctic Silver 5 Thermal Compound (3.5g) on the processor do you think these sort of overclocks would effect the life span of the components in any way? I feel it's cooled well enough and overclocked so little that it'd never really lose any life span but my brother thinks it's damaging.

Also if you don't mind could you tell me if you've personally had pretty high overclocks for a long amount of time (over 2 years ideally)?

Thanks guys for any responses as we don't want to damage the parts.

 

[Insanties_birth]

Thanks guys, I guess sticking to the low overclocks is best then. I'll avoid 3.6 and go for 3.5 if I get an after market cooler since that should be plenty fast and cool enough to keep the life span there.
I don't believe there's too big a risk at 3.6 but you never know.