When I had the Phase hooked up I was 100% stable at 4.6GHz, above that up to around 4.8GHz it was somewhat stable with the occasional BSOD. Once I got beyond that it was a race to capture a screenshot.
For a High OC try adjusting your pci-e bus from 106-110 for stability.
And you may need to loosen your memory speeds/timings. Just because your memory is DDR3 1600 8-8-8-24 and it runs at those speeds at 4.2GHz, that doesn't mean it will still run at those speeds once you get up to 4.4GHz. I didn't buy DDR3 2000 to run at 2000MHz, I bought it so I could still run at DDR3 1600 or higher while overclocking