Reset bios to defaults, disable energy saving features
Boot windows, load
cpu id hardware monitor
write down your vcore reading, this is your 'vid'
Boot bios, set all the chipset voltages to the minimum numeric value available, ram voltage to the specified on the sticks, cpu voltage to your 'vid'
Keep an eye on temperature when testing, stop if it goes above 75 and worry if it goes over 70
Set cpu multiplier to minimum (probably 6)
Increase fsb by 10, boot windows, run 15 loops of
Intel burn test, if stable, repeat
Decrease ram speed if it goes above spec during this process to make sure it isn't overclocked ram that's holding you back
Eventually you'll fail ibt. You're no longer stable, put vcore up one notch and repeat until it's stable
Stop when voltage goes higher than you're comfortable with (over 1.3625 is more than intel are happy with), or when temperature goes too high. If voltage has gone up several notches with no improvement, put it back and try one notch of northbridge or fsb term. If it doesn't help, put it back and try again. Some combination of these three will make it stable. Northbridge and fsb term probably shouldn't go over 1.3V
Eventually you get the highest fsb your board can do. It's around 475 on mine without considerable effort stabilising it. This is a useful number to know for the next part
Put multiplier up to maximum, and do exactly the same thing again. Your ram is good up to 533 fsb without overclocking it, you won't hit 533 fsb so good choice of ram. This time when you can't go further, you're probably done. If you cant go further while a long way off your maximum fsb, try putting fsb up by 30 or so and see if you can stabilise it there. There are fsb holes related to the northbridge strap.
Perhaps not best, but as a method its pretty solid. Might draw a flow chart one of these days
p.s. It'll run faster at lower voltages when its cooler. Despite this, keep your current cooler unless you're limited by temperature before you're limited by voltage