d4m0n, 2-2-2-11 is better than 2-2-2-5. That is an established fact for the nForce2 platform.
P4 chip architecture relies on pure bandwidth. Oc'ing a P4, it would be better to go as high as you can on the FSB with the most relaxed timings. The longer pipelines on the P4 are kind of a hit or miss on execution, hence the dependence on large caches. The way I think of it, it is better to have more lanes on the highway than to increase the speed limit.
AMD chip architecture relies on low latency. This is why AMD has mostly been superior to Intel in gaming. It is always better to have the tightest timings possible. Then up the FSB to its max. As it is, clockspeed is the determining factor. If you have high FSB with lax timings at a much higher clockspeed and a lower FSB with the tightest timings at a lower clockspeed, go with higher clockspeed. But if you're running 3-4-4-8, that's too relaxed. I would go anywhere above 2.5-4-4-8. Better to have the cars moving faster than increase the lanes.