Depends on two factors:
* What does the clock synthesizer chip provide?
* What does the chipset allow?
With chipsets that don't support anything but a certain selection of speed ratios (like e.g. Intel 440BX), you cannot use clock synthesizers in asynchronous ("locked") mode.
If the chipset does do that, you can. It's not a new invention either ... ye olde SiS 5571 and VIA Apollo VPX did that already, and that was waaaaaaay back in the early Pentium days, when Cyrix introduced 75 MHz CPU front side bus.