If your chip can run at 166 FSB and your motherboard can support it, then yeah, you'd see a noticeable increase in running at 166 FSB, which is the speed of the PC2700.
XP1800 @ 133 FSB --> 1.53ghz (11.5x multiplier)
XP1800 @ 166 FSB --> 11.5 x 166 = 1.91ghz
PC2100 --> DDR266 --> 133 FSB
PC2700 --> DDR333 --> 166 FSB
PC3200 --> DDR400 --> 200 FSB
PC3500 --> DDR433 --> 216 FSB