What really matters is not the FSB, but the speed of the AGP slot. Usually this is set at 2/3 of the FSB, so if FSB is 133, AGP would be 88 Mhz. Now to finally answer your question---yes, the V5 will run fine at 88 Mhz.
Some motherboards have 1/2 AGP dividers and in these systems, the AGP port would be running at 67 Mhz. Obviously the V5 runs well at this speed also...
BJ