The clock speed was fast, but it had a much narrower datapath as has already been mentioned.
If you push 16 bits per clock down at 800MHz, then the data rate is the same as pushing 64 bits per clock down at 200MHz. Therefore 266MHz DDR had a higher bandwidth than 800MHz RDRAM.
Add to this the latency issues that the 800MHz stuff had, and the cost, and you see why people switched.
The 32bit Dual Channel modules were better (and ran at 1066MHz as previously mentioned, but by then DDR had dual channel too, so its 128bits vs 32bits, and Dual Channel DDR 400MHz still had a higher throughput.
The narrower data pathway did however make motherboard design simpler.... and as we have seen there is a celing on massively Paralell technologies (PCI givs way to PCI-E, PATA to SATA, Parallel to USB/FireWire, due to crosstalk.)
Not that I'm nitpicking, but your understanding of the technical aspects of "bits per clock" is a little flawed, or you're using the wrong term to express what you're trying to say. I know what you mean, of course, but it's the wrong term. Consequently your final judgement that 266Mhz DDR has higher bandwidth than 800Mhz RDRAM is also incorrect. The 800Mhz 16-Bit modules were installed in pairs, and there were two channels. (one channel for each pair.) In the 32-bit modules, this pairing was done on-module, and there were still usually two channels per board. This is where it gets really confusing because in reality it was a 4 module setup, being expressed as 2 channels on the board. Ahhhh.. I degress.
Lastly, the 32bit modules ran at not only 1066Mhz, but 1200Mhz also. To which I have several pieces of myself. Samsung also has a few pair of 1333Mhz modules that were basically sitting on the shelf waiting for a memory controller (and a main BUS that could handle the throughput.) Plans for such a controller were in the works from SiS, but were scrapped due to the lack of market support after Intel's departure.
As for bandwidth, You see... the problem wasn't with RDRAM, it was with the available bandwidth between the CPU and northbridge that was holding back the CAPABLE throughput of the RDRAM modules. Unfortunately, Intel couldn't keep up (or didn't want to) and dropped us to save face rather than look like they couldn't innovate.
Quad-channel 1600Mhz 64-bit modules (which were TAPED OUT in 2003) would be worthless with even the latest Intel CPU's. The memory was just too fast for them.
However, new light has been sparked into Rambus, and I look forward to the day that XDR shines on the AMD platform. It will be interesting to see how a computer performs when there is almost no main system BUS limitation to restrict memory performance. It all depends on the success of the PS3 however.