Ok.
Go into the BIOS, and set any master overclocking options to manual instead of auto, allowing you access to all of the controls you'll need to overclock. On my asus, its called Ai Overclocking Tuner, but yours will probabily be called something else. I've also heard that some overclocking features are hidden from view, and that you have to manually press some keys to get them to show, although i dont know if that applies to your board.
Find the CPU section and enter your VID of your chip. This will provide the CPU with the voltage it requires to get going, and you have your starting reference for overclocking.
Now you need to adjust memory options. I'm not totally sure what speed your RAM is rated for (i'm assuming 800mhz PC6400). When overclocking FSB frequencies, the RAM speed will be on a ratio that also increases/decreases. To limit RAM being the cause of any stability issues (for now), youll need to set the RAM speed to be 800mhz or below (DDR400 or below). I'm not sure what section this is under in your BIOS, but i'm sure you'll find it. Once you have entered in the timings and set the RAM voltage to what it is rated at, restart and load up CPU-Z. Under the memory tab, you should see that the memory is running at 400mhz (CPU-Z uses DDR rate) or below, and you should see the timings as you've set them.
If it is possible, could you take a picture of your BIOS settings? (just the main page with the overclocking options)