You would probably find that the Celeron 400 fairs better for DVD playback due to its fully pipelined floating point unit and much improved memory bandwidth, especially if you are using an Intel chipset motherboard. If your motherboard supports front-side bus manipulation, you will probably also find the Cellery is capable of 500+ MHz.
Overclocking the video card will not help, but overclocking the processor could. Your K6-3 450 should be good for 500 with just a little voltage bump.
Also take a look at your memory settings in the BIOS. Make sure they are tuned for best performance, especially as the socket 7 architecture lacked in regards to available bandwidth.
I do not believe your nVidia card will have the proper connector, but a hardware DVD decoder is another option. PCI DVD cards are dirt cheap these days (often $20-30 new), but you will need the proper onboard connector for one to work with your video card.
Robert Richmond