Memory speed confusion: what its REALLY running at?

In theory my 'project' notebook, having i945GM chipset, is supposed to run at either/or 266MHz or 333MHz memory bus. I have the two slots populated with matched 1GB 667MHz ddr.
When I pull up SIW to check, it says "DRAM Frequency 266.0"
It shows the modules themselves as "667 MHz"

So I go run MEMTEST 4.0, and it shows:

RAM Speed = 221MHz [DDR445]
FSB 133Mhz
CAS 4-4-4-12

no errors....

Can someone tell me what's going on here? :cry
the Cpq BIOS/Setup is typically barren... no options to speak of, nothing at all about the various clockings...

thx experts
z

 

Bump?

did I stump the Major Geek?? :major