I have a KT3 Ultra 2 with 512mb of Samsung DDR333 (pc2700) and an unlocked Palomino 2000+.
Originally, the day I first booted the (then new) machine, I was running cpu at stock 12.5x133 and the memory at 166mhz, or 'by SPD' via bios. (I think it's listed as frequency in the Dram timings page of bios, it's like 2nd or 3rd from the top, ABOVE the cas setting.)
The KT3 ultra 2 does have a 1/5th divider, so if you unlock your chip, or you're running a tbred, you can lower your multi and increase your cpu's fsb and set the ram's speed 'hst clk'.
Currently, I'm running at 10x180, with the ram synchronous. (asynchronous timing means that both reads and writes must wait until either the cpu or the ram is receptive, which it might not be at that given nanosecond because of clock differences.)
I know it's a synthetic benchmark, but Sandra's Cache and Mem benchmark reported greater than 25% increase in performance by increasing FSB and syncing the ram at 180/180 mhz vs 133/166.
Btw, the KT3 Ultra is a good board, and overclock friendly. I highly recommend unlocking and shooting for the stars if you have pc2700, odds are very good you can hit 180mhz at cas 2.5 (maybe cas2 if your ram is very good). I can do cas2 at 166mhz, but I haven't compared 11x166 cas2 to 10x180 cas2.5 to see which i like better. I think I just like waking up and saying '180 front side bus' every morning.