I have the 3.0E too. Which stepping did you get?
I'm holding a 3.75 Ghz overclock right now (very stable) with the following settings
FSB: 250 Chipset Speed: 320 (which is 5:4 divider).
My memory is "overclocked" back to DDR400 and as such runs perfectly. This is what you're looking for. You don't want to underclock your ram, that's like getting shot in the foot.
With even looser dividers i can accomplish the following:
Posts at 4000MHz, no boot.
Boots at up to 3900MHz, w/ benchmarking software and burn ins running well, but hot with the required voltage.
If your memory speed is lower than it's original spec, try a different divider and see if you can get a better overclock. It's touch and feel with the lack of multipliers to play with, but your setup has lots of potential, even on value ram. Exploit that extra 20 over spec your ram will take. Try and reach 250fsb and a 5:4 divider?

Good luck!