Hmm, I don't have the same mobo as you, but this is what I found on the compability page of my mobo "AMD K6 (166 ... 233 MHz)with Vcore=2.9/3.2V, AMD K6 (233 and 266 MHz) with Vcore=2.2V (HOT-569 V2.x and HOT-569A), AMD K6 300 MHz with Vcore=2.2V/Vio=3.45 (HOT-569 V2.x since Lot-Nr. 23, only)"
It seems neither of the settings you mentioned would do. Perhaps somebody else who has your mobo can answer this question?