The memory speed you choose depends on how much you wish to overclock, and your board's support for various memory timings. For example, running your mem at DDR2-800 with stock FSB (266) would require the 2:3 FSB:MEM divider - 266/400 (DDR2-800 runs at a real clock of 400MHz and at 800MHz effective clock due to it being dual data rate memory). Let's say your board did not support memory dividers, you would be forced to downclock your mem to DDR2-533 - 266/266. Let's say you planned to run at FSB 333, you would have to run the mem at DDR2-667 to achieve the 1:1 ratio. Most people buying conroe chips are pairing them with DDR2-800 memory, which can be run 1:1 at FSB 400. The higher-end boards should have good support for memory dividers. Myself, I'm using a P5W DH and have achieved stability with both the 2:3 and 4:5 dividers. I expect the BadAxe is no different.
As for your specific situation, buying a x6800 and not overclocking, at least modestly, would be a sad waste. If I were you, I would go with a good 2GB kit of DDR2-800 and try for 400 FSB. If that isn't doable for you, you can always opt to use a memory divider at lower FSB, or just downclock the mem. Myself, I'm running my E6600 at FSB 333 with my DDR2-800 kit downclocked to DDR2-666, in order to run at 1:1. My other option at FSB 333 was to slightly overclock the mem to DDR2-833 and use the 4:5 divider. I benchmarked both configs and found essentially no difference in overall system performance.
This memory/fsb stuff is quite convoluted. I hope the above offers at least a modicum of clarity.
-phil