It depends on your motherboard. I have a 530 with a 212+ and an ASRock p55 Extreme, and no matter what I do I can't get over 185 bclk. I have seen many other people hit 200 easily on the 530 so I'd say yes.
Thanks for reply. I had my i3 @ 4.0ghz and 182bclk but didn't go any higher, I only want a bclk of 200 because then I can run my memory @ 2000mhz and if I want a higher CPU overclock then I can just crank up the multiplier. When I get the new memory I'll just have to try it out and see how it goes.
Those voltages are surprising to me. Very low. I suppose it wouldn't take as much as my i5 750, however, the Intel specs for max voltage are the same (1.4V Vcore, 1.4V VTT). I guess this means the i3 530 can be pushed to pretty extreme limits. Actually now that I consider it, I think I read about a guy on water who got it to 5ghz.
But anyway, should work fine... although voltages I mean you just gotta play with them to get it optimal.
Thanks Wolfram, I read somewhere that the P55 boards are very sensitive to VTT voltage which is why I have left it pretty low. But, it works fine for now so i'm not going to change it until I get my new RAM.