That's an unfortunate thing to be saying. Makes it sound as if there's been 166 support there just unused.
Can a lot of chipsets use 166? Yes. Within spec? No. With the ram you have? Maybe.
If you slow down your CAS2 133 ram to CAS3 will it do 166? Maybe. Will it be faster? No.
Will your USB work? Probably not. Will your PCI be out of spec? Yup. Will your machine be faster than before? A little bit. Will it be as stable? Almost certainly not.
Hell, you can shoehorn a Taulantin core Celeron into a BX board and run it at 133mhz FSB. Lot of things we can do, overclockers have known some KT133A can do 166 since they first came out. But like Dulanic said without that PCI divider you're not only out of spec (theoretical or not) you're overclocking your PCI bus as well well as your chipset to do it.
Barton, ok, make it clear this is a 333 chip only for use on newer boards, it's got some changes that might make it actually benefit from the speed and will be the END of socket A chip so go out with a bang and clear marketing distinction. XP's are being bought by a lot of upgraders who see they can plop in a new chip for $70 and away they go. Some of whom read forums like these, a lot don't though. AMD got stuck with a reputation for being unstable because of early 3rd party chipset issues and lack of understanding by casual hobbiests who didn't know to go looking for new drivers and such. Most of that has passed. Bring out a new chip that's going to be making uninformed overclockers of a lot of people and you have all that back just as you're trying to convince the buying public that your new Hammer is the way to go.
Like I said before, I like fast computers. What I don't like is reputations getting made or sullied by a somewhat desperate move like. That's what I'm concerned will happen, as it is if someone wants to unlock their XP and run it 333 with a lower multiplier for the same overall speed they can, as far as I've read that usually works. Anand showed use the gains of a faster fsb on an Athlon before though and they weren't much at all.