For what it's worth I have been running my TH7-II Raid at 133 Mhz fsb and my RDRAM at 533 Mhz for over 2 months now with out a single problem. It has a 1/2 agp divider and a 1/4 pci divider, as well as native support for 133 Mhz fsb chips in bios. But not only that, you can also set the pci/agp speeds to "fix" which leaves those at 33/66 Mhz respectively regardless of fsb and ram settings. A very convenient feature for us Intel overclockers IMO.
However, at present the TH7-II will not supply more than 1.625V max. Vcore for Northwood cpu's. I know a few guys have contacted Abit regarding this issue, as it could be a major setback for overclocking Northwoods, and AFAIK Abit should be looking into allowing a higher Vcore in a future bios release, but until then, this is how it is, without doing any HW mods.