Is that the 2.4 Prescott with a 533 FSB? They usually overclock pretty well, so I'd imagine an E0 stepping would overclock very well if you have a good stepping. HardOCP got their's up to 3.7 gigs on 1.6V with cheap watercooling, and that was back in march of last year so I'd imagine the new steppings are doing pretty well.
You'd need some good cooling for that cpu if you planned on oc'ing it though.