Changing voltages and fan curves is super situational. And depends on how much you value noise over performance.
That said, I undervolted and underclocked the i7 cpu on my G501 gaming laptop back in the day.
This helped a ton, because the heatsink between the discrete GTX 660M and the CPU, shared a heatpipe. The CPU would only throttle at 90, while the GPU would throttle at something like 75. This meant that because it was basically always hotter, heat from the CPU would conduct via the heatpipe INTO THE GPU, causing it to always thermal throttle, and be unable to be cooled. Because even though it was maxing out and trying to cool down by throttling, the CPU would just keep going because for it the temps were fine. So it would keep pumping heat into the heatsinks and heatpipes, which would then keep the GPU hot, too.
Undervolting the CPU allowed it and the GPU to run at closer to same temps, raising FPS by way of allowing the GPU to actually run a full tilt, even though the CPU was then significantly slower.