If you keep pushing 1.5 volts to the core, you sacrifice the core... plain and simple.
What you're going after at 4.4GHz isn't performance, it's more bragging rights. Which is all good and fine, except if you have to pump that much juice in order to do it; then, well, it's not a good overclock. A good overclock would be to achieve that on minimal volts.
Perhaps you got a chip from one of the bad batches of 930's? If so, those are the breaks, but, look at it honestly, the chip is still amazing. As far as real world performance goes, I'd wager that you're not really "sacrificing" much at all.
What you must consider is diminished returns. How many fps do you get at a safe OC of 4GHz vs fps @ 4.4GHz with chip frying amounts of voltage? My guess is that between 4 and 4.4GHz, the fps gains are minimal at best, if you get any at all, as you're already pushing the graphics card as fast as it can go even below 4GHz.
... but, it's your chip, your call.
Just noticed you have an 8800. You're killing your cpu for fps gains you cannot achieve. Your video card is a bottleneck your cpu cannot overcome.