What strap? Some straps/ratios are a bit weird at certain FSB it seems. I had a similar problem when booting low and trying to clock up on the desktop (450FSB and clocking up). 2.00B seems to work across the entire FSB range I've tried. 2.40B however won't boot between 480-510FSB for me no matter what, but I can boot at 510 and clock down fine with it. IIRC, the 266 strap was OK for me at 500FSB too, but booting at 500.
I'd probably stick with trying 2.00B to start. Try booting AT 500FSB instead of booting lower and clocking up. I think the AUTO voltages bump up booting at 500 and again at booting at 550FSB+. That might be what you need. Also try all 3 Performance Enhance settings too if a boot fails, especially if it starts booting and then crashes. Turbo or Extreme might work where Standard doesn't and vice versa.
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