The highest I was ever able to get and keep the phone stable was 119. I did once accidentally slide the bar all the way to the stops and the phone immediately froze, restarted, froze, and restarted until I pulled the battery and used a nandroid backup to get it back to normal. I'd be curious to see what the other answers are as I'm a noob and nowhere near as smart as some of the guys and girls on this forum. As a side note, what is the safest underclock you can go to. Can you go all the way to the stop or will that screw up the phone?
BTW I dunno if it makes a difference but I was using fresh 3.2 with netarchy.