Question about OC'ing new build, need new PSU?

Hello all,

Been reading the forums for a while, but had a question and finally signed up to post.

ANyways,

Build a new System

ASUS P5K-VM (Pencil Mod to fix the Vdroop is next when I get home)
E4500 C2D (2.2 ghz stock 200 X 11)
Corsair XMS DDR2 800mhz (2 X 1 gig)
Evga 8600 GTS
Pioneer DVD-R drive
Seagate 500 Gig HDD

Now I can overclock it pretty well,
running
300 X 10 = 3.01 Ghz , Memory @ 4:5 400 Mhz
But it seems like my Vcore is pretty high
right now its 1.42 to get the 3.0 stable.

Now I can go higher, tried 320 X 10, it will boot and run but OCCT crashes.

Sometimes it will BSOD as windows loads.

Two questions,
Will the vdroop mod help with the fluctuation on the Vcore? Doesn't 1.42 seem high for just 3.0 ghz

Second, I am running a Thermaltake 430 TR2 power supply, and I notice like my 12V is 11.3,
Is a new PSU in order? I've had great luck with this one, and it will just go in another build if replaced, could that be causing the BSOD and the high vcore? I've used this PSU through 2 builds so far, and its been great, but maybe the overclock + 8600 GTS is just too much for the older PSU?

Not to worried about the Chip if I have to higher Vcore (can't go much higher anyways) but do you think I'm at the limit for OC'ing this Processor?

Forgot to add: cooling is fine, Idles @ 30C Load @ 51C