What exactly effects overclocking?

Before I mention what I'm going to talk about, let me list my computer specs. I'll try to list all the info needed for question. Specs are:

Motherboard: Soltek K8AV Series (w/ redstorm overclocking)
PSU: Ultra-X Connect 500watt (2 80mm fans built in)
CPU: AMD Athlond 64 3000+ (retail w/ heatsink)
-Core: Newcastle
-Operating Frequency: 2GHz
-FSB: Integrated into Chip
-Cache: L1/64K+64K; L2/512K
-Voltage: 1.5V
-Process: 0.13 Micron
-Socket: Socket 754

RAM: Corsair CMX512-3200XL
-Module Size 512 MB (2 rows, 4 banks)
-Module Type Unbuffered
-Module Voltage SSTL 2.5
-Highest CAS Latency 2.0 (5.0 ns @ 200 MHz
Case: SilverStone Temjin SST-TJ05
-2 120mm fans
-3 80mm fans
Videocard: ATI 7500 64mb (6600gt on it's way now)
Harddrive: WD40gb 2mb buffer (upgrade later)
Temperatures :
-Motherboard 29 °C (84 °F)
-CPU Diode 33 °C (91 °F)

Cooling Fans
-CPU 1834 RPM
-Chassis 3516 RPM

Voltage Values
CPU Core 1.46 V
+1.5 V 1.47 V
+3.3 V 3.31 V
+5 V 5.08 V
+12 V 12.03 V
+5 V Standby 5.00 V
VBAT Battery 3.25 V
VDD 2.56 V


Okay, now that I mentioned the specs of my computer I'm ready to ask my question. I was trying to overclock my computer and did manage to get the fsb to up about 213x10 which was 2130ghz I believe. That's a +130 mhz difference from the stock speed of the CPU. I tried the fsb to about 220x10, but it kept crashing.

Now should I be ablet to overclock that high with my current set up?

Why does it crash so often if the temperature isn't that high?

Will getting that new video card help me OC better?

What do you think I could get with that setup I listed?

Lastly, would getting another stick of 512mb Corsair XMS ram help out?

Any other tips you can give me? Also anything useful I should know?

If I overclock to say 2.2ghz+ (assuming I can get it), how long do you think my cpu will last?

As you can tell I'm a nb, but want to try to overclock and need help. I'd appreciate any advice given and sorry for such the long post.

If the timings of your RAM are too tight overclocking won't work.