If you're talking about increasing the fsb, you will increase the speed at which the data can be transfered from the memory to the processor (as well as other things). If you're talking about reducing the latency timings, you will be doing just that...reducing the time that your memory is latent (idle or waiting on data).
In both cases, you will be increasing your systems speed. I chose to do both. Increasing the FSB allowed me to OC my intire system without making processor modifications. Decreasing latency increased responsiveness. Don't expect huge gains in performance, unless you make huge increases in FSB. I haven't noticed much benefit over the few days mine has been running. Going from 133 FSB to 150 FSB (hypothetical) should only give a 10-15% increase is system speed. For many it's like that mountain...you climb it because it's there.