SATA was the first standard that was released. It quoted for a maximum bandwidth of 150Gb/s. With the release of SATA2 or SATAII depending on where you read, that maximum bandwidth was expanded to 300Gb/s, hence why you sometimes see SATA150 now. Note that SATA2 also calls for the support of additional features, such as Native Command Queuing (NCQ). However, not all features have to be implemented for it to be considered SATA2 compliant. Tom's has a decent article about it all somewhere, but I can't seem to find it :frown: .
SATA2 ports are backwards compatable with SATA150 drives. I don't know if the reverse is true though.