OC on IGP NF2 Motherboards

Hi there!

I want to build a second machine and now I want to do it cheaper. I
thought about getting the following:

Applebred 1600 Mhz (OCs well, they say) with a Thermaltake Silent
Boost hsf/fan
, An IGP (Integrated graphics processor) NForce2 motherboard like the
Asus a7n8x-VM or perhaps the Chaintech equivalent.

333 Mhz generic RAM (not planning to get an extreme OC here), perhaps
256 Mb.

Drives as usual (UDMA 100 HD, CDROMs etc etc)

My question is: is the Applebred unlocked? can I do this mild OC in
this IGP enabled MoBo? What sort of performance compared to Athlon
levels should I expect of this system? will I get this to 2200 Mhz as
easily as I got my XP 2200+ to 2240 ?

Thanks in advance for all the info,

Miguel