Yes it can overclock.What type motherboard do you have?Does it support 1/4 pci divider at 124mhz?If its still at a 1/3 divide then your bus will be at 41.3,not good for most pci cards.They like a 33 speed bus.I had a p2-400 on an abit bx6,it did not have a 1/4 divider@124,and I overclocked my p2-400 at 4x124=496.My system became unstable as my pci bus began to cook.