I too would like to know about this. I've tried winmospeed and am getting the same results. I have heard, however, that MSM7KCpuspeed indeed doesnt work even if it shows an overclocked value.
Sony Ericsson T290, W200, C510, P1i, C902, X1, X2, X10, X12, R800, MK16
Motorola Milestone, Droid 2 Global, Droid 3
HTC Touch Pro, Aria, Merge
LG eXpo GW280