Originally posted by: Modular
Updating the BIOS can unlock newer features and increase stability. For example: your "CPU Clock" reading maxes out at 232, but it's possible that with a newer BIOS it will actually max out at a much higher number, thus allowing you to get a much faster overclock out of your CPU.
As an aside, I noticed that your CPU temp in BIOS was already at 52C. That's something to be concerned about as that is a reading under no stress and at stock speeds. I would recommend cleaning the heatsink and fan that are on the CPU before overclocking or over-volting. Just use a can of compressed air and spray out all the dust (be sure to do this outside as you don't want to breathe that dust in!).
I didn't have a socket 754 3400, but I did have the 939 one and man did that thing scream! Happy overclocking!