Even with the cooling you have, you should at least be able to raise the FSB up a couple of steps, and have it boot and run.
The way it generally goes is that you overclock a little, and then find you are limited by your cooling. So you upgrade your cooling, and then find that your PSU is wilting under the load. So you upgrade that. Then you find your memory is holding you back. So you upgrade that.
Then you decide that your motherboard is too old....
After getting the hang of pushing the envelope with it as is, you may want to find out what CPU this motherboard is capable of supporting. I have an Abit KT7A which has the same KT133A chipset. Though it doesn't officially support it, it works with an XP1600 Palomino. And with some quality PC133, it has run 154 MHz FSB stable. I nearly broke 10,000 in 3D Mark with a Ti4200.
There is a thread in the Abit motherboards section where someone explains how he was able to use an XP2100 in a KT7, which has the even older KT133 chipset.
A newer chip could really boost your performance, and your overclocking potential.
You will probably want to take the HSF off of the Northbridge chip, and maybe lap it, and definitely use at least some white thermal grease, or better yet a quality thermal compound like Artic Silver. If it is anything like my KT7A, it only had a tiny dab of white thermal grease from the factory, which has long since been baked into a little dot of chalky powder. A too hot northbridge will limit your FSB speeds for sure.