I don't entirely understand this thread, but here's my guess - maybe Mr. Spiv can confirm it??
Are we talking here about overclocking the other parts of the GP32? For example in these variations of 132mhz, do some increase the speed of the memory, address bus etc?
(Hence why this might be of use to some GP32 owners - people who have cpus which cannot be overclocked but other 'parts' of their GP32 which can?)