We´re the same with the recapping skills, but I browsed a lot of theore and frankly, this is the very first time theory has beaten off pragmatism: I have 6 VP6 boards, one is absolutely new with the notorious Jackon caps, which you should know that there was a story of industrial espionage from, started by a fired Rubycon engineer who took some unfinished electrolytic formula information for his own purpose, guess he wanted to create his own and sell, but his team he had hired stole this info and created their own, and sold it to big manufacturers who plagued much electronics worldwide...but back to the board
The rest 5 have different caps, different capacitance values and the different withstanding voltage. I will now answer to your questions:
First, yes, you are right about the rule not to use lower voltage caps - on this particular board, only 2 caps need to be 16v - the ones on the rear edge near to the AGP slot, that is the VRM from 12v to 3.3v. The green couple circled can have lower values, it should belong to the chipset & CPUs, so using 6.3V is well enough, because it takes voltage from the 5v rail. 6.3v caps are available with much higher capacitance than the 16v, so using them is wise for overclockers. And of course, higher capacitance means lower ESR.
As for replacing, I bought all of them at ebay, so no recapping, although I have bought 6.3v 3300uF and 16v 1800uF Ultra Low ESR MBZ Rubycon series for OC improvment up to the peak of stability - these should reach the maximum limit of 178MHz FSB. As to my knowledge, there is none VP6 that has not been recapped yet, the former electrolytics failed after approx 2-3 years of normal usage, 1 1/2 year of 24h usage. It is rather rare that one has been found on ebay.
I always knew that not the chips or memory modules or the motherboards themselves are the limitation of OC, it were their electronic parts = mainly the capacitors, sometimes MOSFETs.
MOBO: PVI-486SP3 Rev 1.2
CPU: POD-83
RAM: 2x16MB
VIDEO: Matrox Millenium 2MB/Voodoo2 12MB/Video Blaster VT300
AUDIO: SB Vibra16 FM
SCSI: 72GB 15k RPM HDD/YAMAHA CD-RW 16x/ZIP drive + FDD drive
NIC: 3Com Etherlink III
PSU: 230W Generic
OS: Win95 OSR2.5