I'd be quite surprised if you could overclock that one. Usually, computers from places like Gateway, HP, or Dell are locked in the BIOS to prevent overclocking.
To answer your question - it is possible, just not with your current motherboard. I OC a Dell pentium III, but had to find a used computer parts store, and new (old) Pentium 3 motherboard. In my case, I just baugh a whole pentium 3 (with ASUS MOBO) for 30$. Mine came with jumpers, so it limited what I could do anyway, but if you can get one without jumpers that'd be the best option.
From my experience, he cannot do software overclocking because none of the softwares will support he mobo he's using...if you do find a program that works, let me know though lol
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