Unfortunately ELSA didn't include any utility to overclock the card like many other manufacturers. So we used Powerstrip GX to overclock the card and see how far the card would overclock.
Surprisingly, the core overclocked to 155MHz and was very stable with just the regular heatsink. Anything higher than this caused artifacts on the screen and/or crashes. This is the same clock speed as we achieved with the Leadtek S320 II with its heatsink/fan. What this means is that we either got a fairly good quality chip, or active cooling doesn't really make that much of a difference. The heatsink on the ERAZOR III is much larger than the one on the S320 II (because the fan takes a lot of space), so this could be a reason why it makes it to 155MHz.
The memory was a different story, we were only able to get the SDRAM chips up to 155MHz before weird things started happening. I suspect the reason for this limit is the use of SDRAM rather than SGRAM. The 7ns SDRAM on the ERAZOR III was from Samsung and at the same time, the 7ns SGRAM on the S320 II was from Samsung also, but it was able to make it to 170MHz. Perhaps our card just had bad RAM and it can actually make it higher, if anyone can verify this, please email me. 155MHz memory speed is not very good, considering that memory does make quite a difference in performance with the TNT2 chip.