Hmm, keep in mind I'm an Intel guy, so everything I say may be incorrect (and your computer may explode with smoke coming out if you listen to me heh). u&t basically had it correct. You have a very limited ability to adjust your FSB, jumping from 133 to 166 in this case. You need to test to see if your memory can handle 166Mhz. I looked at the AMD faq on overclockers forum and it said this:
"All XP2000+ and lower rated tbred cpus will be unlocked from the factory, allowing multipliers 5-12.5 to be adjusted in the bios of ANY MOTHERBOARD that support the processor and have multiplier selection."
(as an asside, this is different from Intel CPUs in that the multiplier is locked, so you can only play with the FSB)
So what you want to do is set your memory to 166, while dropping your multiplier to 9 or 9.5 (9.5 is a 50Mhz overclock, while 9 is slightly underclocked). This will increase the speed that your memory is running to 333 (166x2). This is preferable in that the CPU is at about the same speed, while the memory is running at a greater speed, giving you more bandwith. If you have 333 rated memory you could do this probably with no problem, but 266 might be able to handle it too. You cold up the vdimm by .1 or so to see if that helps. This is basically the first step. Then you play with the FSB and multipliers until you see what speed you can hit. You probably won't get very high, as the AMD retail cooler is a pos from what I've heard (Intel one is decent).
If you have an option to lock the AGP/PCI bus to 66/33 I recommend that you enable it.
This is very important: If you choose a setting and your computer won't post you need to reset the BIOS. There should be a jumper listed in your motherboard's manual to do this. Otherwise you can pop out the BIOS battery (looks like a big watch battery) for like 10 min from the MB.
A couple of programs I recommend:
Motherboard Monitor 5 (MBM5) for monitoring temps and voltages http://mbm.livewiredev.com/
(ah, shoot, I've got to split. You'll have to google them
CPUZ (cpu and memory status)
memtest (test memory)
Prime95 (burn in)
Before you do any of this I really recommend you hang out in the AMD forum for a while though, just to get a better idea of what is going on.
Anyway, I've got to split. Good luck.