First of all, if you try to install both of those together, most likely your computer won't start.
It doesn't count as overclocking if that is the normal speed for that RAM, most Motherboards with underclock the RAM to the default 1333. If your MoBo can handle it, you can just go into the BIOS and set the RAM to the correct speed.
The fist number in your RAM timing is your CAS Latency, or CL. It is the one that determines the speed that information can be retrieved from the RAM in clock cycles - of course, if you double your speed (800MHz to1600MHz) but half your CL (CL 6 to CL 12 [half speed is a number twice as big]) your RAM is going to retrieve twice information at half the speed.
The advantage to a higher MHz is that as your MHz goes up, you also get more bandwidth.
If you have a really stable 1600MHz RAM card and overclock it to 1866 or 2133, you have to bring the CL up so that it doesn't burn out your card, thus OCing RAM doesn't make it faster, it giver you more bandwidth.