This is one of my favorite types of questions and I would like to explain the answer in glorious detail.
The Pentium II that is in your laptop does not run at a 100mhz FSB. The PII 300?s run with a 66mhz FSB; all of the PII300?s ran at a 66mhz FSB. The first PII was the Klamath, which used the 350nm manufacturing process, but this was used only for desktops. The PII in your laptop could be a Tonga, which used the 250nm process, and came with a new type of socket called MMC-1, MMC-2 and the Mini-Cartridge. Both of these versions of the PII used the 66mhz FSB and the PII didn?t get to enjoy the freedom of the 100mhz FSB until the Deschutes, which still used the 250nm manufacturing process, but had a 2.0 volt core as opposed to the 1.6volt core the Tonga did. This could have been a factor to allow for a high FSB clock speed.
Now with these series of PII?s the L2 cache was not onboard and as a result ran at only half speed of the processor. This was a dramatic step back from the Pentium Pro series of processors, which is what the PII was based on. This did not make a lot of people happy and was considered a bad move by many enthusiasts. This slower L2 cache speed will likely make the celeron a better processor because it has a full speed on-die L2 cache. So even though it is smaller, it will be able to get info in and out of the cache much faster. Celeron cache will run at 400mhz, while the PII?s cache will run at 150mhz.
Here is where it gets complicated:
If your laptop is any of these models from the 600e series:
3A0, 3AA, 3AC, 3AF, 3AH, 3AJ, 3AK, 3AP, 3AS, 3AT, 3AU, 3TJ, 4A0, 4AA, 4AC, 4AE, 4AF, 4AH, 4AJ, 4AK, 4AP, 4AS, 4AT, 4AU, 4TJ, 5A0, 5AA, 5AC, 5AF, 5AH, 5AJ, 5AK, 5AP, 5AS, 5AT, 5AU, 8A0, 8AA, 8AC, 8AF, 8AH, 8AJ, 8AK, 8AP, 8AS, 8AT, 8AU, CAA, CAB, CAC, CAD, CAE, CAF, CAG, CAH, CAJ, CBA, CBB, CBC, CBD, CBE, CBF, CBG, CBH, CBI, CBJ, CBK, CCA, CCB, CCC, CCD, CCE, CCF, CCG, CCH, CCI, CCJ, CCK
Then you do not have a Tonga PII. You will have a Dixon PII. Now the Dixon PII had an L2 cache of 256KB but was on-die. This means that it ran at the full speed of the processor. Though it still suffered from the 66mhz FSB and back down to the 1.6 voltage, though it could also go to a lower voltage of 1.5 or 1.55. This version of the PII will most likely perform better then the Celeron 400mhz, but this could be a lot harder to postulate.
Now if you do not have one of the above models then you have another option. The older PII?s, the Tonga, came in the MMC-2 socket, which I mentioned above. This means the processor is replaceable AND the FSB is adjustable with a jumper setting. This can bring the FSB to 100mhz. This also means that you can used a version of the mobile PIII because it was electrically and pin-wise identical. There are BIOS workarounds and step-by-step instructions to do this here:
http://kihwal.fayoly.net/600e/
I hope this helps out.
In summery:
If you have an older laptop the Celeron will be faster but upgradeable
If you have a new laptop the PII will most likely be faster but not upgradeable.
Edit: Grammer