Engadget reports hackers have created a major overclock kernel patch for the Palm Pre that boosts the device's processor clockspeed from 500MHz to a whopping 800MHz (a 720MHz overclock is also available). The site reports users of the crack haven't experienced a lot of issues (like crashes or freezing), and that battery life drain is only an additional 2-4 percent! You can learn more about this hack at the PreCentral Forums.
The two phone magicians, unixpsycho and caj2008, have tapped into the power of the Pre's CPU with a small file that can be semi-easily installed using WebOSQuickInstall and a tiny bit of Linux command-line activity. So far, it looks like phones being tested with the somewhat risky tweak haven't experienced too much of the normally expected issues (crashes, freezing, phones exploding). Also a surprise is the fact that the creators of the hack say battery life drain is only an additional 2-4 percent hit... though if you're already struggling to make it through a day, this could be the nail in the coffin.