Read up on an OC how-to guide first (like the one on this website) so you know what you're doing.
Once you've done that, then once you OC your CPU to 432 FSB, your DDR2 will be running at DDR2-864 if the memory divider remains at 1:1. This is well within the parameters of G.Skill DDR2-1066, so it shouldn't be a problem. You run memory at 1:1 "by default".
Once you've settled on the CPU OC, then your next step is to increase the memory divider to take advantage of the extra specified headroom your RAM provides (otherwise you would have bought lesser RAM). This is all fine and dandy, but usually the performance increase from OC'ing RAM is pretty small. Therefore, 1:1 is usually fine. Running a higher memory divider is squeezing out every last bit of performance from your system.
At FSB 432, if you use a memory divider of 1.2 (or 6/5 in fractional terms), then your RAM runs at DDR2-1037, which is still within the spec'd parameters of the RAM. Meaning, the RAM can run at that speed for sure.
Now at that same 432 FSB, if you increase your memory divider to 1.25 (or 5/4 in fractional terms), then your RAM runs at DDR2-1080, slightly above its rating. This is not guaranteed by the manufacturer, but it is the nature of overclocking your RAM. You should probably be able to do this if you tweak it properly--you'll have to get your voltages right too.
Here's a set of OC'd speed parameters that would probably work with your system (I'm just calculating backwards from maximum specified RAM speed):
RAM speed: 1066
Memory divider: 1.25
FSB: 426
CPU speed: 4.047 GHz
You would run the RAM at G.Skill's specified voltage, most likely 2.1V, and will need more CPU voltage to hit that speed.
This is the relationship between FSB, CPU speed and RAM speed. You'll have to juggle the various parameters of your system to get a stable overclock, but therein lies the fun. Since you have bought "factory OC'd" RAM, you've got plenty of headroom to run a higher memory divider, so why not? Hope this helps.
Btw, despite the fact that your BIOS will allow you to input an FSB value up to 800, you will not be able to run FSB 532 with your setup.