Newbie overclocker with strange rig.......is it possible?

Hi, folks.

I've seen the THG guides to overclocking Core 2 Duo chips. It seemed very straight forward and easy to understand. My question is this - will my "FrankenSystem" be able to overclock? I've been concerned about using my cheapie motherboard and legacy DDR Ram. Here's the setup:

Core 2 Duo E4300 (Zalman 8000 CPU Cooler)
ECS P4m800 Pro version 2
2GB (2 x 1gb) Corsair DDR-400 Ram (Cas2 latency)
Diamond ATI x1950 Pro AGP
WD Caviar 120 GB HDD
Antec Treo 650Watt PSU (57 Amps on 12V)

I'm really interested in smallish overclocking. I understand this cpu has lots of OC room, but I don't want to blow any of my components in the process. You OC vets out there probably have a host of reasons why this won't OC worth a crap, so lemme have it.

Thanks in advance. 8)