Hey AK! Good choice in mobo and chips
4W4K3 gets higher clock speed on less voltage than me so you should definitely be able to get that up higher with cooler settings. Not guaranteeing you'll pass 2.7GHz though even with the 2600+ just because that's still pushing it quite a ways, but you'll need some dern good cooling unless you got a good stepping, but overall it's still quite possible.
Regarding your RAM, it really doesn't matter what the processors FSB is, you're going to change it
Even if you weren't overclocking, lets just imagine this hypothetically, to get the most out of your RAM you'd simply change the FSB to 200 and just change the multiplier so that you still have whatever the stock clockspeed was, you're just taking advantage of the RAM you have understand what I mean? Remember to keep your AGP at 66MHz though, this is the reason most people simply can't raise the FSB is because they don't have the option to change or lock the AGP bus at 66 which locks the PCI bus at 33, with the board you're getting you can set it and leave it at 66.
The fact that it's valueRAM will hinder your overclocking only if you want to OC your RAM which would mean setting your computers FSB beyond 200 so unless you plan on doing that you can simply keep changing your multiplier by .5 increments until you hit 14 then it starts to increment by 1, so then you can max out your CPU speed with the multiplier but still retaining the same FSB and RAM Speeds, now if you go above 200 then you'll be overclocking your RAM and will need to up Dimm voltage and possibly loosen timings or at the very least have to do some adjustments, but I wouldn't expect to high of a RAM OC with ValueRAM, but you can probably hit 210FSB for DDR420 basically.
So yes the 3200 ram will definitely be better than the PC2700 as you'll have the ability to at the bare minimum set your FSB straight to 200 and just lower the multi, you should do this first. Not sure if the stock clock on the 2600+ is 1.8 but assuming it is, stock settings would be like 133x13.5 or so, so instead you'd change it to 200x9 which would still give you 1.8GHz but your FSB is increased which means the entire system will run better, no bottlenecking between CPU and RAM. So basically that's what the RAM is really good for and this chip and CPU combo, is the ability to get a 1:1 ratio with the CPU
RAM which is good and best for the system.
If you need any other help post and me and 4W4K3 both will be able to help you as we all 3 will have the same boards lol, but you two will have the 2600+ mobile opposed to my 2400+ of course.
BTW Just so you know my sig is outdated and I run at 2.5GHz so I can keep my Vcore at 1.875 instead way up at 2.05 cause that's a bit high to run constantly, but still I never had any problems with stability while it was up at that speed so definitely good chips
Regarding how high can you expect to overclock, well every system, chip and architecture is just a tad different, and it depends on the stepping because some chip steppings are better than others. For example my IQYHA stepping is supposed to be one of the better ones for OC'ing