3200 hands down.
First of all, it will run dual channel which the 754 will not, plus it was my favorite PC ever
3200 winiie, MSI board with VIA K8T800 pro chipset, and a couple 512MBs of 2-2-2-5 at 230-240MHz (46-480 effective)
Pulled 35ns mem latency and the desktop just snapped