and is ulv ultra low voltage
Yes ulv is ultra low voltage. Well I'm not an expert at this so don't take my word on it but you can do both performance and battery I believe. I'm pretty sure the voltage portion is in reference to the battery. I have set to1.3 opposed to the1.35 because I had problems overclocking it that much in the past. I this helped a bit. But search the threads and I'm sure youcan actually find a guide to the app.
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The best program for OC is Milestone Overclock - I've just lowered stock voltage 1000mhz @66 to 1000@50, and phone goes nice!
But i'd like also to downclock lowest frequency - 300mhz! Which program can do it?