From a Microsoft Knowledge Base article:
SecondLevelDataCache records the size of the processor cache, also known as the secondary or L2 cache. If the value of this entry is 0, the system attempts to retrieve the L2 cache size from the Hardware Abstraction Layer (HAL) for the platform. If it fails, it uses a default L2 cache size of 256 KB. If the value of this entry is not 0, it uses this value as the L2 cache size. This entry is designed as a secondary source of cache size information for computers on which the HAL cannot detect the L2 cache.
Another Microsoft TechNet article (see under "Optimizing Your Memory Configuration"), discussing Win2K, specifically recommends against changing this registry entry:
Do not change the SecondLevelDataCache entry
Some third-party sources have erroneously reported that modifying the SecondLevelDataCache registry entry in HKEY_LOCAL_MACHINE \System \CurrentControlSet \Control \Session Manager\Memory Management can enhance system performance. The second level (L2) cache is recognized by the operating system and is fully utilized regardless of the setting of this parameter.