Does the fsb on a motherboard effect the speed of the cpu you can use?

Usually the front side bus is set by the cpu, so if your cpu is 1066Mhz, That's what the front side bus runs at. You don't have to have memory that has the same or higher FSB but it helps. Most boards these days especially AM3 will reach 2000Mhz so there is plenty of room for overclocking. As long as the motherboard is AM2 Plus or AM3 then the cpu you have chosen should be OK.