It supports all P4's at their proper speed. They only list the fastest one that was available at their factory when they tested the board! I've had many arguments with potential buyers of my boards because Asus never updates the info on the webpage, not even after years (I sell a lot of Asus boards that support 1400MHz PIII's with a slot adapter, but the website says they only support 700MHz+).
Of course Intel recommends you get a board with a higher power VRM for the 3.06GHz processor because it has a higher current load.
The board has other problems, such as the fact that it won't run many AGP8x cards, nor DDR400, with any degree of stability. It's probably Asus's worst board at the moment.
<font color=blue>Watts mean squat if you don't have quality!</font color=blue>