In my experience, a bad/ noise power supply (noisy power), will reduce your max overclock. The motherboard is usually pretty good at supplying good clean power to the CPU, but not all of the noise gets removed. (even if the noise is still within the ATX standards, having a power supply that does significantly better than the ATX standards, will allow you to get better overclocks)
(the power usually becomes a problem when you are trying to reach the last 100-200MHz, eg pushing your CPU to 4.7GHz VS 4.5GHz)