Hi Babdi, Welcome to the ASRock forums, you know me from somewhere else...
Questions, to quote you: I have connected the front panel USB to Grey USB socket (6 GB/s)
Hmm, the grey sockets are the SATA III connections, the top ones from the ASMedia chipset, the lower grey ones the Intel SATA III ports. Do you mean USB or eSATA? The USB 3.0 front panel connection on the mother board is just below the 24 pin power connector.
Please use the two Intel SATA III ports, the grey ones below the first grey stacked pair, which are provided by the ASmedia 1061 chipset, and are slower, and hard to boot from. I don't mean to use them for the front panel USB connections.
AIDA64 may be wrong showing the highest level of your OC.You must have SpeedStep enabled (which is fine) which lowers the CPU speed to 1.6GHz under low load. Did you set the Turbo multiplier to 47 by All Cores or Per Core? Did you try the ASRock XTU utility, which should show the correct CPU speed. The latest CPUz should too.
Frankly, going to 4.7GHz with an Ivy Bridge CPU will be difficult. I would try a multiplier of 42 first, and if you don't choose By All Cores, only one core is set to 4.2GHz. IB boards and CPUs are difficult to get above 4.5GHz, due to high CPU temperatures. DO NOT OC your IB CPU using guides for Sandy Bridge CPUs, they are similar but also different in some important aspects. What are you using to monitor CPU temperature?
Instant Boot requires a special partition on a drive to be created before the feature is enabled. If you use a SSD now, Instant Boot is a waste of time, it really is Intel's version of Windows Hibernate. I use Windows S3 Sleep, which is very fast and works fine. All these features are enabled by default in the BIOS/UEFI, which I disabled and don't use. Or at least get your PC stable first, and then try them. With all these different and new features, you really should check the manual.
MVP Virtu is still buggy and does not support all video cards. I would not use it, and I don't.