If your ZIF processor is the original 400 MHz one (at this time not already overclocked), you can try to squeeze an extra 50 MHz out of it. Some people are successful at getting a 100 MHz, but that is very rare. In my three Macs, one B&W and two beiges, I have successfully overclocked them 50 MHz with no issues what so ever.
If you think about upgrading yor processor, it really is simple, easy and straight forward. You can find full instructions to do the upgrade on Other World Computing's web site.
Search here for peoples testimonies to their CPU upgrades and overclockings.
http://forums.xlr8yourmac.com/cpureview.lassoHere are my figures.
Beige G3 rev 1 w/ OWC 366 MHz G3 ZIF, overclocked to 400 MHz.
Beige G3 rev. 2 w/ Apple 350 MHz G3 ZIF, overclocked to 400 MHz.
B&W rev. 1 w/ OWC 550 MHz G4 ZIF, overclocked to 600 MHz.
Any higher and I get instability problems. B&W also has a CPU fan installed for extra protection of overheating.