Lizardman, If you get good PC800 (newer samsung), it will not have trouble reaching 533 fsb.
About the 2.4 ghz part, With the Th7-2, you can run your P4 at 2.4 and the RDRAM at 3: 1ratio ( PC900) speed without any problem with the PC800 ram. This presuming your P4 can go that far.
And yes, it would easily outperform DDR at 2.4ghz