*~*MAX SAFE VOLTAGE & TEMPS*~*
Before I go into this, I just want to say that this is my OWN opinion and take it as you will.
No one is absolutely certain of what the safe vcore is for the sandybridge chips. What I can tell you is that many say the max safe vcore for these chips are 1.3 region, however, intel states that the max 'VID' is 1.52 and many say that around 1.4 if your on air and 1.45 should be the max if your running water cooling. Personally I will not go above 1.5v for 24/7 with these chip but that is totally upto you. The main thing to understand is that 'YOU' have to come up with the conclusion of what the max is. That way no one is blamed if the chip degrades (none reported so far, even with so called 'high 1.4+ vcore')
Those that have killed or degraded their cpu's have done so through either by their own fault, running sucide runs with crazy voltages and by not having substantial cooling for their overclocks and voltage or for reasons like their mobo or PSU causing shorting and also BIOS bugs.
Please remember that not all chips are the same, some can do high overclocks with low voltage some cannot as you can see in this this thread and many others.
Regarding temps, CPU throttles at 95c, some say keeping it below 85c is good, some say keeping it below 80 is better, other's say below 75c is really good and there are quite a few that say 70c should be the max. Which ever one your comfortable with and if you have substantial cooling, YOU DECIDE YOUR MAX, just remember it throttles at 95c. If for example you hit 85c in stress testing then in everday usage it shouldn't be higher than 75c which I think is fine, I personally like to keep mine below 70/75c during general everyday usage