Performance wide, we can't tell difference but some chips like certian set of multi and FSB settings in order to reach certain OC speed. My kid's E7400 is fine for 10.5 x 360 but another E7400 in my friend's rig, has to settle down 10 x 375.
It is about balance and finding it. The multiplier is simpler as does not affect RAM clocks. FSB does so you may find yourself tweaking RAM ratio to achieve stable OC. I am not saying one is better just they present different issues.
Edit: But I would start with multipliers first but maybe just me.
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