I've never smoked a CPU. Even with OCing.To tell the truth I haven't really taken a look at i7 coolers.
I assume you're not new to overclocking, but you've got to try to fry a chip these days. Also, One way to really kill the lifespan of the chip is raising the voltage. So I just OC as far as it will go with the stock voltage. However, I find that a slight under clock won't affect the OC potential too much, and will make the chip happier.
Individual transistors are another story.
I also prefer to stick with stock voltages.
As far as coolers, I remember Zalman(?) having an issue in the past with the contact/mounting surface not being completely flat. Dished IIRC. Though I can hand lap one if needed, I'd rather not have to.
I guess I need to take another look at available LGA1366 coolers available (or at least listed).