I guess I got lucky because I have two sticks of 256 megs.... they are rock stable at 166, max aggressive timings. Oddly enough, any higher and they're not stable at all, even if I relax the timings.
As for voltage, I have always fed them 2.8 volts... recently I tried giving them 2.9 for a day just to see if they would fry or anything (stupid I know) but they were fine. I don't have heat spreaders or anything... I do have decent case ventilation though. I let 3dMark 2001 loop for a while, after I started giving them 2.9 volts, and touched 'em with my hand every now and then... and they were warm to the touch, but not hot.
I recommend to anyone, whether overclocking your ram or not, to give it more voltage... 2.7 to 2.8.