I'm a AMD man myself, if you can, go with AMD, if you already bought a motherboard for a PIII, then I think you need a 700 w/ 100fsb. If I am not mistaken, the 700 is 7 x 100. If you can get the FSB up to 133, you will get 931 (7 x 133). I heard that if you want to overclock a pentium III, you should get the 100 fsb ones, cause they have some headroom, whereas the 133's don't. I also heard that there is no reason for the 100 fsb chips not to hit 133 fsb, unless it can't handle the clock.. try the cpu processors and overclocking forum.. lot's of ppl in there will be able to help you out.
Now back to pushing AMD on ppl .. With an Athlon chip, the multiplier is locked, just like the PIII's, but this is reversable (whereas on the PIII's it's not!). On the Athlons you can unlock the multiplier simply by connecting (shorting out) the L1 bridges on the chip. Then you can play with the multiplier all you want. AMD's processors are on par or greater in performance than anything Intel can offer and significantly less expensive.
I don't know what your situation is regarding what kind of hardware you already have (ie, motherboard).. but if you're looking for a new system, let me be the first to recommend an AMD system.
<edit> AMD chips have a DDR (double data rate) fsb. This means that AMD's 100 mhz fsb is actually 200mhz.. and the newer AMD's with 133 ddr fsb are actually 266, you'll hear ppl say both, but they are the same thing, effectively 266 mhz!!! Now my analogy of this is breathing in and out at the same time, much more air, for less breaths per second, dig?) </edit>