Mine tops out where my sig says really. I don't have much breathing room at all with it when I did try OCing back when I did get it. Since then I'm sure i've stressed the CPU quiet a bit and might actually try pushing it more now when I get a free moment.
You should beable to hit 3.15 to 3.2 without much problems at all bear minimum. I havn't heard 1 person not hitting that unless it was the board limiting them on the FSB they could put out.
Suggestions start with new fan, lower tempatures can't kill it and higher ones will hurt overall OC in the long run. Bump your voltage up more, all you want is to make sure its not running over 1.7volts idle, or 1.65volts under load, suppositly those over time will start killing it over time (people have run these and over and still the CPU lives to date, so who knows but its a good rule to follow).
Also getting some cooling on the power regulators on the mobo can help too, putting heatsinks on them or just making sure a fan blows over them minimum can help. If you want to get creative, cut a hole on the mobo tray on the back side around the CPU area and the power regulators are, and add cooling, sometimes it can reach upwards of 70C easy back there behind the chips, and I've heard up to 95C!
Loosen ram timings as suggested, drop them to 2.5 or 3 in cas just to test it out. You can always later drop the timings back down to get your fastest stable speed.
Edit... Also one added thing, bump you AGP voltage up to 1.6 or 1.65. It gives more power to the chips around it and it helps out overall stability in the system when OCing. This will not increase voltage to the videocard due to its voltage regulators onboard the card to make sure it gets the right voltage anyways.