Front side bus speed is important to know, but don't let the numbers fool you into thinking you are getting a more powerful or faster PC based on the FSB numbers alone.
This can be a confusing subject for some, but I know that with a little research you can understand it completely.
You do need to know the FSB when selecting RAM and CPU combinations, as well as motherboard compatibility.
I think companies like Dell and Gateway have really tainted the minds of comsumers with the whole "Intel 800 FSB" saying. What they don't tell you is that with that awesome CPU, they are giving you a slow performing hard drive and cheap RAM.
Example:
I am running and AMD 3000+ with 400 FSB and 1 GB PC3200 RAM
My hard drive setup is a set of 10K RRM WD Raptors Raid 1 mirror.
All that running on an n-force 2 Gigabyte brand motherboard.
My workstation Shuttle is running an Intel 3.0 GHz 800 FSB with 1 Gb PC3200 RAM
Running one 80 Gb seagate 7200 RPM drive.
The shuttle has an Intel 865 chipset.
I can tell you that my AMD machine will out perform the Intel all day long. This is based on the total hardware setup, not just the FSB of the processor.
If you are looking for a speed increase in your system, always remember the hard drive. I think that is one of the most overlooked items in optimizing performance of a machine.