While the front side bus in Athlon XP systems runs at 133MHz, the PCI bus needs to run at 33MHz, and the AGP bus needs to run at 66MHz. The PCI bus takes its cue from the system bus, running at a fixed fraction of the system bus?in this case, one quarter. This is referred to as a 4:1 PCI divider, because for every four ticks of the front side bus clock, the PCI clock gets one. AGP then runs at a 2X multiple of the PCI bus.
Of course, if you try to run the front-side bus at 166MHz without changing the divider, you wind up with a PCI speed of 41.5MHz and an AGP speed of 83MHz. And then you're overclocking nearly everything, from the chipset to the RAM to the AGP and PCI interfaces to the processor itself. Doing it this way can deliver some performance improvements. However, you're running components out of spec, and while some components can take the added speed, others can't. This can lead to stability problems. The bottom line is, if AMD ever does come out with a 166MHz system bus, they won't do so with the PCI and AGP interfaces overclocked. Instead, they'll change the PCI divider to 5:1 to compensate for the bump in front side bus speed.