I upgraded my old Celeron 266 (o/c 400) to a 700E a while ago and everything there worked out ok. I tried to push it up to 133FBS, but I never made it to Windows. My slocket is an Abit Slocket III....I suspect this is why overclocking for me was unsuccesful. I think one made my MSI is much better, but I never got around to trying it out.
FYI: You know that your AGP clock divider will be running out of spec if you overclock to 133, right?