3400+'s come in two flavours, Clawhammer(2.2GHz, 1Mb L2) and Newcastle(2.4GHZ, 512Kb L2). I think there may be another Clawhammer variant but I'm not sure, they do come in two steppings though.
I have been overclocking my Newcastle 3400+ at ~2.6GHz (217x12) for weeks and it has tested in prime95 stable for hours. (and hours).
My main BIOS settings are as follows:
vCore = 1.65v
HTT/FSB = 217
multiplier = 12
vDimm = 2.8v
RAM divider = 1:1
Prime95 seems to be the "community" standard for stability testing, it has a torture test you can run (options >> torture test). If your cpu is unstable it will usually fail within 15 minutes or so, but 4hrs plus seems to be a good indication that your cpu is stable.
If the program fails, it will stop. You can get it
here.
The Athlon 64 have a max temp rating of 70 degrees, if you reach it, the pc shuts down automatically, but I wouldn't recommend running anywhere that speed. Mine runs ~40 degrees idle and ~48 degrees under load at the above mentioned settings with a 3rd party heatsink and fan. (Even though I think it's a POS, the HSF, not the cpu).
I can get a 10% increase (2640MHz) running a vCore of 1.72 but the temp increase is not acceptable, so I'll have to wait until I get my watercooling setup to find out just how fast the cpu will run.
I'm assuming you have the stock heatsink/fan from AMD? As long as you've not raised the voltages, you should be fine as long as it tests prime stable.
If you are overclocking, turn off Thermal Throttling in the BIOS, it interferes with the overclock, BUT, if you are running the factory bios shipped with your Lanparty, there may be a problem when you turn it off. There are some more factory bios's that Oskar Wu (board designer) has released that fix this issue.