Personally if you are ever overclocking something, i'd atleast put a heatsink on the CPU just in case, especially since they are so easy and generally I never bother with paste but that wouldn't be a bad idea.

As for the speeds, if the diagram on the board/manual only goes upto 200Mhz, chances are it will only ever run at the max of 200Mhz regardless what rating CPU you put in there.

What motherboard model is it? If you're not sure, take a good photo and I can try and that might shead some more light.

Most Intel boards used in Packard Bells should be set to a multiplier of 1.5x for 233MHz Pentiums.

It depends on the board and processor it seems, probably only works with a real 233MHz Processor.

It has a heat sink and fan. As for the board I have no idea. It's one of those weird packard bell boards with a daughter board for the expansion cards. Oddly enough it uses dimms instead of simms. I haven't come across this form factor of board that ever used dimms.

The board has tons of sticker with serial number but no plain model numbers. As far as I know this form factor never came with anything higher then a 200mhz pentium.

Although I just googled a little and it looks like they used the same board in the multimedia s605 and that came with a 233mhz pentium

I think the form factor was called LPX, it was used by AST as well (who used the same boards in their Advantage machines) and TriGem among others. Intel made every board I have ever seen in Socket 7 Packard Bells and ASTs.

I swear, 1.5 is what you set it to with a P233, it is shared with 3.5. Works on my Packard Bell Pulsar 16 anyway, and that maxes at 3.0 according to the silkscreen table, it came with a 166.

Agreed - on the Pentium MMX chips, the 1.5x multiplier is interpreted as 3.5x. You can't actually set a 1.5x multiplier on the MMX because it's meaning was redefined. This should work the same on all the MMXs, even if it's not supposed to be a 233.
AMD has the same remapping on some of their chips, I'm not sure when it started. With their higher clocked K6-2 and K6-3 chips (maybe all of them), AMD also remapped the 2X multiplier to 6X.

Yeah I agree with these guys, I upgraded my own Packard Bell Platinum 55 from a 133mhz cpu to a Pentium 200MMX. I wouldn't bother going to AMD route when you can get the actual Intel CPUs for very cheap now.

damn looks like they made LPX boards with socket 370's which would be 10 times better. But nobody sells them and if they do , they don't have the riser board

I think that the reason a K6-2 won't work is that it was designed for a 100 Mhz FSB Super Socket 7 and there's most likely a 66 Mhz regular Socket 7 in that m415. It most likely uses an Intel 430VX chipset which was very popular with Packard Bell back then for its low cost and versatility allowing it to use Pentium MMX processors and SDRAM. As far as I know you can only use a K6-2 or 3 (and a Cyrix/IBM 6x86 M-II) on a VIA, SiS or ALi based Super Socket 7 main board.

K6-2's have no problem running with Intel chipsets and/or 66MHz FSB. There are mainly two prerequisites: Proper voltage (2.2V-2.4V depending on the exact model; 2.8V like for Pentium MMX is definitely too much) and BIOS support (although the system should usually boot anyway, possibly with reduced performance).
Good example: http://www.tomshardware.co.uk/oldie-tuning,review-211.html (K6-2+ on ASUS P55T2P4, Intel 430HX chipset).
If the voltage was too high it is possible that the CPU is destroyed now, I hope that's not the case.

As for this Packard Bell you need some further research.
On http://www.oocities.org/sjg/geobook.html there is an interesting entry (quoting in full in case the motherboard indeed matches):
[...] Motherboard #: PB 810 Model Name: M415 [...]
"About a month ago I upgraded my parent's Model M415 with PB 810 motherboard from an Intel Pentium MMX 166 MHz processor to an AMD K6-2/333 MHz processor. I figured out that if you put all three CPU core voltage jumpers ON (you have to buy extra jumper plugs from Radioshack if you don't have extra's since the PB 810 only comes with one.), the CPU core voltage is 2.4 Volts (I measured it.). This is fine for the AMD K6-2 processors - some are 2.4 V and some are 2.2 V but all will work at 2.4 V.
To combat the extra heat, I installed a fan in the lower front of the cabinet - there is a snap fit fan holder there already. This blows air directly across the CPU and the core voltage regulator transistor heat sink. Since the motherboard only has two clock multiplier jumpers (you need three to get the 5x multiplier for 333 MHz) I used some wire wrapping wire from Radioshack (a couple of $ )to run a jumper wire from the center clock multiplier jumper pin of the clock multiplier jumper closest to the front of the case to the cpu socket hole for the BF2 CPU Clock Multiplier input pin. I then jumpered the motherboard for a 3x multiplier per the motherboard manual which the CPU saw as a 5x jumper setting because of the added jumper wire. It has been running great ever since with Wintune98 numbers close to 98% of average for the 333. Total cost was about $20 for the stuff from Radioshack.
I plan to replace the CPU with an AMD K6-3/400 MHz when the prices come down to the $45 - $50 range. I didn't upgrade the BIOS, didn't even install the PB upgrade. The BIOS doesn't detect the CPU's speed properly (says 66 MHz)and doesn't know it's name but it boots fine (these are just CPU ID errors and don't affect performance - AMD changed the CPU ID scheme for this version of AMD K6 after the BIOS was made.) To get optimum performance I installed Powerleap's free CPU Control Panel software to properly enable Write Allocation and disable the Memory hole at 15M-16M which really does speed things up. CPU speed as detected by Powerleap CPU Control Panel, WCPUID, and Wintune98 all show 333 MHz. e-mail me if you would like more information."