There is a thread by the venerable Clunk on the P5K, ignore the fact that he has the deluxe, it is the bios settings that you need and they are more or less the same ,no matter what grade the mobo is.
http://forums.hexus.net/showthread.php?t=110267
You dont have to change the memory timings as the bios will be set via
spd, however to get the best out of the board it is a ggod idea to twaek the settings to suit the rest of your components.
For your memory you need to refer to Corsair or look on the side of the memry chip and it will tell you. On my Corasir 6400 C4 it is 4 4 4 12 TRaS is set for 42.
Clunks thread will also run through how to overclock your system safely for when you wish t do so.