I would say an Athlon 600 and the FIC, or The K7Pro from MSI, depending on what it sells for there.
No GFD. Then you get a pretty good 600Mhz system - once you save the extra $50, you should have an instant upgrade to 750 - if you invest another $30 in a really good heatsink, you should make 800Mhz.
Grand total cost would be around $270 for 600Mhz, $320 for 700Mhz (maybe 750) and $350 for 800Mhz.
Roughly...
I am not the best person to ask about PIII - I know how much they cost and they perform well, but I do not know how much it costs (time & money) to overclock them, but Athlons are pretty easy.
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