... but can it be overclocked? Yes it can:
Pine Trail netbooks are going dual-core! Intel officially introduced its new Atom N550 processor earlier this morning, adding that systems based on it are "available in stores today." Acer, Asus, Fujitsu, Lenovo, LG, Samsung, MSI, and Toshiba are all on board, with N550-powered netbooks due to appear anytime between now and the end of the year, according to Intel.
As the comparison chart below shows, the Atom N550 has much in common with the Atom N450, but it raises the core count, scales back the clock speed, and adds DDR3 memory support: