Look, memory by itself does not have a "speed" - it doesn't have a clock on it -- that's on the motherboard. The memory "speed" is the bus speed that it is rated for. That said, PC2100 is rated to run at speeds up to 133Mhz and PC2700 is rated to run at speeds up to 166Mhz. There is no difference in the "speed" of these two types of memory if they are installed into a system that is running a bus speed of 133Mhz -- the memory "speed" does not change if the bus speed is not changed.
To answer your question, I doubt that your system requires PC2700, unless you are overclocking your Front-Side Bus (FSB), because there aren't any mainstream processors that run on a 166Mhz bus (Intel at least, any AMDs? I don't know). So, if your system indeed requires PC2700 DDR SDRAM, then it just won't work at all, or have intermittent crashes, if you put PC2100 in it. However, if you are running a FSB of 133Mhz or less, then you shouldn't notice any performance difference at all, because you aren't actually changing the speed the system is running at. Most people buy PC2700 because they want to overclock their system beyond its 133Mhz FSB specification. BTW, I used 133Mhz and 166Mhz to describe the FSB setting, but since it's DDR SDRAM, the actual bus speed is doubled to either 266 or 333Mhz.