Hey kwarkers, I also am an Asus A8V-E Deluxe owner, and I'll share what I know.
I have an Athlon64 3700+ (2.2Ghz stock) overclocked to 2.8Ghz (255 x 11). The board, as noted in other reviews, will not boot past 266, thus somewhat limiting overclocking. Since I OC for CPU speed and not bus speed, such a limitation is minor. I use use 2 sticks of Corsair XMS 512's, and use the memory 166 divider (DDR333) to run them at DDR400 speeds with OC. (255 x 11 = 2805; 2805/14 = 200.35 or DDR400). To keep the processor stable, I raised the Vcore (wierdly named Hammer Vid control in the BIOS) to the max 1.5625v setting. Note I use the 1008 BIOS update from ASUS. I have also replaced the stupid chipset fan with a Zalman passive unit which is amply cooled by my Thermalright XP-120 with a 86cfm Panaflo fan. I also keep the LTD bus frequency at 1 Ghz. My memory is TCCD based thus is happy at the 2.75v stock voltage with 2-2-2-7 timings at 1T. As a side note, I have two 74Gb Raptors running RAID 0 off the motherboard. My setup runs Prime95 without a hitch as well as MEMTEST86, so good luck with your setup. I have all this installed in a Lian-Li PC-60A Plus powered by a Antec Truepower II 550.