Yes, good thinking - I would never buy PC2-4200!
PC2-5400 is still inexpensive, and will work fine.
Ideally you would pickup PC2-6400 (800MHz) if you were thinking about the future.
It will also work fine @ 533MHz - really fine in fact :^)
My Corsair PC2-6400 has special SPD settings, that kick in below 270MHz (or ~540DDR) to apply much tighter memory timings @ DDR533 speed.
Regards