RAM's so cheap now, I wouldn't hesistate to go buy a bunch and try it out (I recently bought 512 MB--that's right: A HALF-GIG--for about $70!).
The other problem you'll have to deal with is that it may have a disappointingly low limit on the amount of RAM it can handle--I've seen some machines that can only handle something like 352MB or even 256.
Finally, the BIOS is probably pretty old, and proprietary, and not susceptible to upgrading. The newer OSes, like Windows 2000 and XP, won't like that, as there are some things like ASPI compliance that they insist upon.
Good luck, and FReepmail me if you have any other questions.
From what I can find, your system can handle 256MB, has 2 banks, which means you can either put in a single pc100 or PC66 256MB SDRAM 168pin Dimm, or 2 - 128MB SDRAM 168pin Dimms. I wouldn't vouch for it recognizing the single 256 MB stick, though (It is Packard Hell - yeah, my first one was Packard Bell untill I gutted it).
Pricewatch.com shows 128MB SDRAM 168pin Dimm for $10, and the 256MB SDRAM 168pin Dimm for $16. Either way, you are gonna max out your memory for less than $20 plus shipping.
How much memory do you have in it now? Most packard Bells I've seen report the memory found on boot up.