I would say lower the multiplier and keep raising the FSB baby!! you can always lossen the timings a little on that good RAM, you should have no prob hitting 3.6-3.8 if you have good cooling. Is that RAM EL or standard? The unknown is always the cpu too, it might be a winner or it not be...its a crapshoot, but thats what makes OC'ing so much fun
Edit: BTW, follow Margalus and do every test you can do...always a good idea!