The max safe voltage for the Q6700 is 1.450 Volts. Do not go to Intel's max of 1.500 Volts.
http://www.techpowerup.com/forums/threads/highest-safety-voltage-for-q6700.130835/
For FSB type of overclocking you should start out with the lowest memory ratio; 1:8 I think, lower if possible. Then do the OC and see where the RAM frequency ends up. Like I mentioned, a slight underclock of the RAM frequency is perfectly fine.
Perform OC in gradual increments, raising the CPU voltage by 0.5 Volt increments, and then run the computer for a while. Stress test. Check temps.
Overclocking is a slow process and takes several days for fine tuning. Do not rush.
Some guides here - http://www.tomshardware.com/s/overclocking+guides/