I remember using 40Mhz/3 AT BUS clock in BIOS back in the day when I had 386DX40 upgraded with 8MB RAM. I used to play Settlers 2, Command & Conquer, Lion King on it. It definitely made some games designed for 486 playable. Late 386s could handle faster AT bus fine. I wouldn't use VLB on 386 though as the benefit will be minimal as measured above.
Pentium III 900E,ECS P6BXT-A+,384MB,GeForce FX 5600, Voodoo 2,Yamaha SM718
Turion 64 ML-37@2.2Ghz,Gigabyte GA-K8NE,2GB,GeForce GTX 275,Audigy 2ZS
Phenom II X4 955,Gigabyte GA-MA770-UD3,8GB,GeForce GTX 780
Vishera FX-8370,Asus 990FX,32GB,GeForce GTX 980 Ti