I don't think the P4PE would support the Prescott core, let alone "officially" support 200/800MHz FSB. With a supported core such as a Northwood "C" chip, the CPU will be underclocked.
Here's a tip...
WIP: Karaktu's Unofficial Guide to mobile Celeron
Get yourself a mobile Celeron 1.6-2.0GHz and overclock it as far as the motherboard will let you. The mobile Celerons had twice the cache of the same core desktop Celerons so performance is pretty decent, plus they are rated at a lower voltage so they seem to have some headroom. They are often good for 2.7-3GHz (depending on how high a FSB your motherboard can overclock to). They are also available for cheap, nowadays under $50.