With Palm being in a dire situation the Palm Pre is not getting a lot of love these days even so it is a pretty nice device! The guys at PreCentral are still using their Palm Pre and some developers were able to overclock it and released 2 new custom Linux kernels: 720MHz and 800MHz. More after the break!
There had been previous attempts to overclock the Palm Pre but those methods were not as safe as the new one. Please note that overclocking your device might harm your device so use it with care.
The battery life has been reported to be pretty much the same as the regular Palm Pre but as you can see in the video the device is way faster when overclocked.

All the credits go to unixpsycho and caj2008, you can find all the instructions @ http://forums.precentral.net/palm-pre-tips-information-resources/238141-b-optimized-webos-1-4-kernel-video-wosqi-720mhz-800-mhz-easy-install-b.html.
Palm officially commented on this hack and as we all guessed they do not recommend to overclock your Palm Pre... what a surprise ;)
We have had a number of questions about the recently released “overclocking” patches and what Palm’s position on them are.
Palm is working hard to improve the speed and performance of webOS, as shown in our recent 1.4 update. While we appreciate the effort the webOS community has put forth to try and help us along that path, the use of this application is neither endorsed nor recommended by Palm and will likely result in a voided warranty. Palm encourages webOS users to let Palm release official updates that provide safe, reliable, over-the-air features that improve their device in a number of areas, as we have in the past at a rate of approximately once per month.
Don't forget to follow us on Twitter and join our Facebook Fan page to stay updated.