Small world. I just built my first computer recently and I also used an Athlon XP 2700+ with an A7N8X mobo. I did purchase 512MB of PC3200 memory, but realized later that I got better performance if I scaled the memory back to 166MHz (i.e. PC2700 speeds). The PC3200 was about $100 more (total) than the PC2700, so I wish now that I had just bought PC2700
In case you want to know why the "slower" memory actually performs faster...it's because the Athlon 2700 runs at 166MHz but PC3200 memory runs at 200MHz, thus they are not in sync. This is called running your memory asyncronously and it can actually cause "faster" memory to under-perform. What you want to do is match the speed of your memory to the speed of your CPU. That is why PC2700 is better for this processor (unless you will be overclocking your CPU to 200MHz, which I am not)..
Also, I would suggest two sticks of 256MB instead of one stick of 512MB. That is, unless you plan on getting another stick of 512MB soon. Using two sticks of memory will allow you to take advantage of the Dual DDR on the A7N8X.