another aspect is hyperinsulinemia. one of the effects of insulin is on theca cells, that in turn release more testosterone. Moreover, insulin also decreases the amount of sex hormone binding globulin, so you have greater amounts of free sex hormones circulating. Cyr is right in that clomiphene is used for the infertility aspect of PCOS rather than actually treating the disease. A lot is symptomatic relief. Weight loss is huge for these patients, because the androgens are converted to estrogens in peripheral adipose tissue via aromatase.
hopefully that was a little bit of help...