My attempt was not to be humorous, but hey I got a laugh! I was not sure if the P3V4X was AMD or Intel, but I guess it should be obvious since it has P3 stuck right on the front of P3V4X. Sorry for the "mental train wreck".
A P3 700 @ 805MHz is not too overclocked at all. In fact, I bet you are running at default voltage and you temps are reasonable too.
I personally don't think your overclocked cpu is the problem, BUT if it crashes at that speed then don't do it! It is not that big of a performance gain if it crashes.