That processor isn't recommended for overclocking - from what I've heard, the best anyone could squeeze out of that chip stably was approx. 2.80 - 2.90GHz or so. Other's have reached about 3.06GHz, but this resulted in an unstable system - which I'm sure you don't want.
My advice - buy another CPU. That board has a Socket 775 slot. If you're on a budget, one of the newer Socket 775 Intel Pentiums based on the same architecture as the Core 2 series are an excellent, cheap purchase that results in a relatively solid overclocker.