|"If u have the PIII latest board it can accept up to 2gb of memory. "|
Some boards will accept even more than that. My Apollo Pro 266T based PIII board can take up to 4GB of DDR1 memory.
However, most PIII boards are based on Intel chipsets and will only take up to 512MB (i810, i815) or 1GB (i820, i840, or a 440BX with 4 slots).
Super PIII | Unlocked ES Tualatin @ 1.8GHz (150x12, 1.65v, 512K L2)
2GB PC2700 | 500GB | Radeon x1950Pro | Apollo Pro 266T | Win 7 Pro