Yes, the PIII-800e can be overclocked (I'm running one at 936MHZ).
As was mentioned, the 700e still seems to be the favorite with the increase of 100 to 133MHZ putting it in the normal operating bus speed for peripherals with the Intel 815 and Via based motherboards and a very high percentage of these devices reach 933MHZ.
The 800e is a pretty good overclocker but the success at 133MHZ FSB is less achievable since 8 X 133.3 = 1066MHZ and the current process is not producing silicon that will regularly reach 1.06 ghz. Even Intel has pretty much thrown in the towel for producing PIII devices above 1 GHZ. Yes, some devices will run at higher speeds but the percentages are pretty low.
If you check the database at overclockers.com you'll find that somewhere around 70% of the 700e's, 750e's and 800e's reach speeds of ~950 MHZ. of these, perhaps 10% exceed 1 GHZ. So, it means that it's still a roll of the dice as to what you'll get if you buy an Intel device for overclocking. Chances are pretty good you'll get a 700, 750 or 800 to 933-950 but not quite 1 in 10 chance to exceed 1 GHZ.
When I upgraded from my trusty C300a@450 I wanted a guaranteed increase of performance of somewhere around 100%. The 800e at default achieved the 100% increase in performance over my overclocked celeron so even if it didn't overclock at all I was still where I was hoping to be speed-wise. The added speed that I was fortunate to get by overclocking is pure manna from heaven and even without it I'd be happy with my system performance. For me the 700e at default wasn't quite enough of an increase to justify the upgrade by itself and the cost difference was so small from the 700e to the 800e that the 800e was my choice. Yes, I could have purchased a guaranteed 700e@933 for a moderate premium but it would have been more costly than an 800e retail device. Like most who have upgraded from the C300a, I'm very pleased with the result.
As for overclocking the T-birds and Durons - It seems that 90%+ of these devices built on the .18 process successfully reach 900+ MHZ and most of these appear to exceed 1GHZ. I guess AMD has their fabrication process proooducing some very good silicon. Very impressive yields when viewed from the technical manufacturing aspect and what a treat for us overclockers. Hopefully AMD will continue to make the L1 links available for re-linking.