dakata24, no, your ram is still good. Even though the ram is pcXXXX it doesn't mean anything if it doesn't run at the rated speed (duh!).
As you have a KT266A based board you run at 133Mhz = pc2100. If you oc your fsb you might find pc2400, pc2700 or pc300 ram useful because the ram is sure to be able to handle higher speeds.
Ram can often run faster than it's specs though, my pc2100 (133Mhz) Kingston ValueRam run 160mhz without any problems, with a voltage increase though. I'm just glad I got it just before it got more costly, I got 1Gb for about the same as 512mb cost today
As for your ram being ancient as in not future-proof, well, at the time you'll need to upgrade that rig there'll be much faster mobos out that prolly even can't use your current ram.