OK, that explains it!
The P4P8X in question DOES support "800" bus and DDR400 though!
You see, the 865P is a low end version of the 865PE. There is no real difference technically, I believe it involves Intel "Speed Binning" chipsets.
But recent news has shown that 865P chipsets are indeed capable of being forced to function as 865PE simply by using PE BIOS from an otherwise identicle board.
Having said that, if speed binning is involved, I wouldn't put as much faith in the 865P for overclocking!
All this developed from you pointing out that the cheaper board uses the 865P instead of PE chipset.
Asus also produces an 865G Micro ATX board in the P4P800-VE. And the same rule applies there, the G isn't supposed to support 800 bus (as the GE would), but Asus's board does it.
<font color=blue>Watts mean squat if you don't have quality!</font color=blue>