And I got this bit from 
http://ftp.kelp.or.kr/pub/arm-linux/people...2004/README.txtfreq:      the desired frequnecy in khz;
   n_value:   the N value in CCCR;
   fast_bus_mode:   [0|1], to specify switch to fast bus mode or not.
For example, 
  # dvfm 104000 2 0
will switch the system to 104Mhz, with N=2 means RUN mode,no fast bus mode.
  # dvfm 65000 5 1
will switch the system to 65Mhz, with N=5 means TURBO mode,fast bus mode.
Note:    Please refer to Intel PXA27x Process Developer's Kit manual to know the combination of freq N and fast_bus_mode, incorrect combination will hang the system, or even damage the hardware! 
So, how to use dvfm to set the clock precisely?
[EDIT]I tool a look at the cpuoverclock.py script and found the relevant chunk:
       FREQ_TAB    = ["104", "208", "312", "416", "520", "624"]
       CCCR_L_TAB  = [  "8",  "16",  "16",  "16",  "16",  "16"]
       CCCR_2N_TAB = [  "2",   "2",   "3",   "4",   "5",   "6"]
...
...
...
        CMD = "dvfm " + self.CPU_CCCR_L + " " + self.CPU_CCCR_2N + " 1 2 1"So I tried 
dvfm 16 5 1 2 1(the spaces are important!)
(I notice that in the titchy wiki comments someone called ip-206-32 has posted similar things, but perhaps due to the display problem his commands are not shown properly  with irregular spacing.)
L:16 ZN:5 b:1 t:2
vm_setvoltage: write 0C
Set frequency to 520000 with L:16 ZN:5 B:1 Turbo Mode, A:1
Calibrating delay loop... 517.73 BogoMIPS (lpj=2588672)(Don't ask me what's going on here as I am no computer guru)
Then I got 
520 (517.73) mhz, as confirmed by 
cat /proc/cpuinfo.
dvfm 16 4 1 2 1 (again, mind the spacing!) brings me back to 
416 (415.33) mhz. And so on.
But still there is screen flickering after overclocking...