OMAP3430 is designed to work at 600MHz with a frequency target of 800MHz.
Surely not every chip is created equal, most of them seems to work fine up to 1GHz, a few golden ones can do 1.2GHz but then the heat and battery consumption is usually not worth it.
I usually OC mine to 800MHz using the tool mentioned in this thread and it works pretty well, 1.2GHz is unstable but that only required a simple reboot.
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