That's a nice overclock on an XP1700+ with default voltage, we would need to know more about your system tho, your cooling, RAM, and if possible the chip's stepping.
If you're running in the lower 40's you may up you voltage to 1.8 and see if you can get any higher, if you're already over 50C I think you should first solve your heat problems and only after doing that start OCing
i have a huge heat sink and fan on it i have 256 ddr (2100) and a 64 meg agp video card i can get exact specs if you need them let me reboot pc and check temp on cpu is there away i can do that through windows
Your temps seems to be on the high side, so until you haven't lower the temp I wouldn't suggest upping the vcore. yea, more specs will help us help you. you should give us exact brands and models
Also is the heatsink the one you got with the CPU? if yes I think you'll better get urself something better. I would recommend AX-7 for the best price performance ratio, but there are also SLK-800, SK-7, and SK-6+ which all are very good performers, but they also cost a bit more. A fast fan would be a must to get the most out of the heatsinks but you can choose any fan you like, because none of the above heatsinks come with fans.
Also if your RAM is Generic (you can ask if it is in the Memory section) I wouldn't expect it to go really high on the FSB, so unless you want to unlock your memory might be one of the factors that will hold you back.
As said above I don't think 160FSB would be much of a problem for PCI cards. I had my FSB at 167 and didn't loose any of the cards, only the memory is only SDRAM PC133 which wouldn't be stable at such high speeds. so knowing your hardware really helps.
Also how big (in watts) is your PSU? If its a generic then it could be a problem when you OC. I know my PSUs just can't take more speed or I become unstable, I've got 300W generics.
And another thing, you might want to make a sig, similar to mine and other people's sig, you can be original and creative too, just we have some restriction about sig sizes.
when text size is 2 (standard) we're allowed upto 10lines with that size, when text size is 3 (big) we're allowed upto 7 lines, when text size is 1 (small) like in mine, you're allowed upto 13 lines, any smiley you have in your sig will be counted as either a size 3 (if the text is 3) or as size 2 (no matter if text size is 2 or 1)