A few things:
1. 533MHz is a quadruple DDR spec for a Pentium 4. P4 motherboards operate at a 4x data rate. They used to use memory that ran at 100MHz (400MHz 4DDR) but recently started using chipsets that supported 133MHz memory (533MHz 4DDR)
2. No matter whether you go AMD or Intel DO NOT skimp on memory; you'll regret it big time. Get a nice stick of Crucial PC2700 or for a few dollars more, a stick of Corsair XMS3200 CAS2 if you intend to overclock.
3. Right now, the boards to get are NForce2 chipset-based boards. The Asus 87N8X or Epox 8RDA+ are the ones your want. A KT333 or KT400 (Via chipset) board is good as well. Read the Motherboard forums; lots of helpful info there. FIC motherboards are just not up to par, IMHO.
4. KT333/KT400 boards have a 1/5 PCI divider. (Overclocking is more complicated than just upping FSB frequencies

) When you raise your FSB speed, you also raise the AGP and PCI bus speeds. Your AGP card is supposed to operate at a 66MHz bus speed, your PCI cards run at 33MHz. For every 2-3 MHz you raise you FSB speed, your AGP/PCI speeds go up by 1MHz. So, at say 150MHz, your AGP/PCI busses are way out of specification. Some cards can run out of spec, others, including HDs will crash. Not good.
5. On KT333/KT400 boards, the 1/5 divider kicks in at 166MHz (333DDR/PC2700 speed). So at 165MHz your busses are out of spec, but at 166MHz they are back perfectly at 33/66MHz respectively.
6. NForce2 boards have the AGP and PCI busses locked at proper speeds REGARDLESS OF WHAT YOU SET THE FSB AT! So, that's one BIG overclocking problem taken care of right off the bat. In the past, your CPU and Memory might be able to take a 150 FSB, but your NIC or your videocard might not.
Hope this helps.