Intel's max recommended safe op voltage for your CPU is NOT 1.3265. It is 1.3625.
That voltage is supposed to be read from CPUZ at Windows and with your cores under max load. Yes, this means that you can safely go higher than 1.3625 in BIOS.
Intel's absolute maximum VCORE for 45nm CPUS is 1.45V. Intel do not consider 1.45V to be safe op voltage, but in practise every overclocker runs their 45nm CPU around 1.40ish V Vcore in BIOS.
Here's, for example, my modest 4GHz OC on my Intel Core 2 Extreme QX9650:
VCore reads "1.385" but the VCORE at BIOS is 1.40625. You eliminate VDROOP by enabling your LLC (Loadline Calibration). My LLC is enabled, and I consider overclocking a 45nm CPU with LLC off a niche for masochists.
Unfortunately you have got a Gigabyte motherboard. I can't help you b/c I don't know how to OC a Gigabyte mobo and their BIOS is terribad for overclocking. I used to own a GA-P35-DS4 mobo which I got rid immediately after it became apparent that I could not OC my CPU on that board any higher than 3.79 GHz. In fact, my experience with Gigabyte's terribad BIOS was so bad, that I never bought another mobo from them since 2008, and in fact I recommend people who are interested in OC to buy ASUS motherboards only, due to their very extensive and OC friendly BIOS.
In short terms, Yorkfield overclocking is based on manipulation of FSB Termination Voltage, CPU PLL voltage, and Northbridge Voltage.
ANANDTECH's recommended maximum voltages are here:
Good luck in deciphering your BIOS. Sorry I can't help.