My best guess is it has a 95W CPU limit. This would mean a Q6600 SLACR G0 stepping, or an X6800 unlocked 2.93GHz 2 core extreme CPU 80W.
If you want to try for an overclock with the Core2 Extreme check out the links in my sig. The X6800 is a B3 stepping so 3.2 to 3.45GHz would be a good...
What are your exact specs? You say Pentium II/Pentium III, but the only Precision 390s I see with Pentiums are from the Dual Core age ten years ago, not the late 90s.
My best guess is it has a 95W CPU limit. This would mean a Q6600 SLACR G0 stepping, or an X6800 unlocked 2.93GHz 2 core extreme CPU 80W.
If you want to try for an overclock with the Core2 Extreme check out the links in my sig. The X6800 is a B3 stepping so 3.2 to 3.45GHz would be a good result.
As to whether it's worth spending $80 for a MB and CPU on this is up to you. Just about any LGA775 45nm 4 core Optiplex will run circles around it. And many people consider those to be obsolete. If it was a Dimension 9200/XPS 410 it would be a different story, those supported 130W Quad Extremes and can get up and go pretty good.