The PCI and AGP are two different buses in your system, and the speed of the buses are a function of the front side bus (FSB) speed. You want to try to run the PCI bus as close to the default of 33Mhz as possible, and the same thing for the AGP bus speed of 66Mhz.
Some boards have dividers that set the speed of the PCI and AGP buses. For example, if you were running at 200 FSB, then you would need a 1/6 divider for PCi and 1/3 for AGP for both buses to be running at the default.
The PCI and AGP locks on newer boards like the Nforce2 simple "locks" the buses to run at their default speeds regardless of the FSB speed. Some boards have a setting in the BIOS, while on others it can't be disabled and runs automatically. Chances are, if you know your board has PCI/AGP locks, and their is not setting in the BIOS, then the lock is automatic and always enabled.