Yes, when you increase the HTT, you increase everything: the CPU, the RAM, the HyperTransport, et cetera. (FSB is an Intel term. AMD systems use HTT; they are essentially the same thing.) On that note, make sure if there is a PCI-slot and PCI-E slot frequency lock. Without these locks, those frequencies will also increase with the HTT.
Your RAM is right now running at 2.5 V. If we need to, you can increase that up as high as 2.75 V. The goal is always do as much as you can with as little voltage as possible however. DDR 533 might be an unrealistic goal to have at present. Always set your goals at reasonable levels so you can be sure to meet them.
2.66 GHz would be 242x11. While that motherboard should be able to handle a 242 MHz HTT, Manchesters are not so fond of speeds in excess of 2.6 GHz. Of course, in the processor roulette, you may win.
I would say it is safe to start experimenting as my rubric lays out. The goal here is doing it right the first time. Be slow and meticulous. Leave no stone unturned. I am not going to lie to you, a proper overclock can take upwards of 40 man-hours to do. Orthos, which you will require for testing, should be available on the front page. Make sure to get the dual-core one.
I will be adding you to the off-site roster
momentarily. When you get to a speed you are happy with, you can get yourself a snazzy validation link. In CPU-Z, hit the "About" tab. The newest version you only need to type your name, email, check "publish online," and then hit submit. The older versions require that you save the validation file, and then upload the file to the website.