really simply, the PC100 133 or 150 mean how fast the memory can run. At a bus speed of 100, 133 or 150 ( 150 for overclocking ) just because memory is rated for 100 does not mean it will not over clock to 133 though.
The second thing is the CL rating. CL2 or CL3. CL3 means that it takes 3 cpu cycles for the memory to respond, CL2 means it takes 2. obvously cl2 helps, as it can be a 1/3 speed gain.
Hope that helps. There are more things that Mem is rated for, but those are the main 2.