Hi Silver,
I've had three of these Shuttles, and all of them with the Gainward GeForce III. No problems all the way up to 180mhz on the latest one.
Like you plan on doing, I would play with the latency, as well as the apature settings.
Also, have you tried a different PSU?
The other thing that I have found with these, is that the latest bios is not always the fastest. The latest few that have come out severly reduced my ability to OC.
You can go directly to the "beta bios" section of their FTP site
here. They have some "performance" bios's, as well as all of the old ones, going back to March, 2001. I believe that I had good luck with the AK31S906-7 ones, although you may find another one that works better.
You can also find a nice selection of, non-beta ones
here..
I believe that when Shuttle had to make these boards compatible with the XP's, they had to make some trade offs.
I hope this information helps you get to where you wanna be...
Good luck,
Doc