Nvidia was very transparent with the information regarding GPU Boost, from the reviewers guide:
So Nvidia stated, categorically, the average (and guaranteed) increase you can expect is 1058Mhz, GPU Boost is also limited to 1110Mhz on every card anyway, so no review cards went over that speed. Also the performance difference between the guaranteed Boost clocks (1058) and the maximum (1110) is less than 2%. Negligible.
I use Afterburner, latest edition that has full support for the 680. Apparently, when the cards are under heavy load, they don't fluctuate the clocks at all, it finds a happy medium and sticks to it.
Anands review gives a very good rundown of what's going on, pretty much matches up what's going on with mine, as far as i can tell anyway. As i've said before, heat plays a crucial role, if the GPU is over 70c it simply will not hit the maximum Boost of 1110, it scales the clocks according to load, heat and power consumption, although never dropping below 1006Mhz.