AGP 1.0 compliant means that it has support for AGP1x, AGP2x and sidebanding.
AGP 2.0 compliant means that it has support for AGP1x, AGP2x, AGP4x, sidebanding and fastwrites.
Since AGP4x and fastwrites do not make a material difference to performance, your video card is not going to suck.....it will be fine.