Nah, if it is a katmai (Alias PIII socket 370) just trow at it a bigger cooler, like a volcano 12+ or something in those lines.
I can overclock my XP 3200+ all the way up to 2675mhz just with air cooling (volcano 9)...
But remember, OC is something that requires patience, and careful (a lot of both in fact). Don't try to put the clock to max from the first try. Start with little increases and check the core temperature and system stability by running intensive tasks to get those readings to extreme.
Temp should not exeed max allowed for that processor (In fact, better to keep it at least 10C under the max allowed, and that is under full load). I think your processor max safe is 70C, so never let it go over 60C..
The best would be for you to get a good OC guide, print it, and start OC'ing until you reach the best setting. But be careful. The line between a good OC and a fried CPU is quite thin...
(If you find any mistake in my English, please let me know via a PM)
(Really, I speak terrible English, so please, tell me if I make mistakes. I'd like to improve it a bit )