??!?
I found this trick using my P4B533-E.  I wonder what's going on with your guys' -E's?  I know that mine works fine, and that the P4B533-E that Ed @ overclockers.com tried it on works fine as well.
You can check out my sandra screen shot by going back to the oc-forums thread this originated from.  (150MHz, 3050/3026, 2-2-3-6, 512MB Corsair XMS3200)
Let me know what else you guys find out.
EDIT:  You guys are right in observing that 150 3:4 does NOT work at 2-2-2-5.  It absolutely doesn't, no matter what kind of memory you have.  However, mine seems to be running stable (complete install of XP, ~3 days of FAH) at 2-2-3-6.  Any timing faster than that refuses to POST.
D'hoser