Okay, maybe that's a poor way of explaining it, sorry, i do better in the BIOS than i do trying to explain RAM stuff.
Simply put, Intel's default "max" RAM speed for P55 is DDR3-1333.
That's achieved via use of the 10x ratio. (aka 2:10)
133 BCLK x 10 = DDR3-1333.
Even if the mobo doesn't have a ratio higher than 2:10, all you need to hit DDR3-1600 is 160 BCLK.
Of course, some mobos have higher ratios than than that, making it even easier.