No, there's not really a big difference, since the drive itself won't even take advantage of the bandwidth of ATA/100. The "100" in ATA/100 refers to the mb/sec that the interface is capable of handling... ATA/133 can handle 133mb ("mb" is not referring to "megabytes" in the traditional sense), but the drives themselves can't produce that kind of throughput -- they don't rotate fast enough, and the read/write heads don't move fast enough to produce that kind of throughput.
The G5s have a different interface for hard drives -- SATA (Serial ATA -- the drive you bought is PATA, or Parallel ATA). If you wanna give it a name, then it would be ATA/150, since SATA is capable of bandwidth in the neighborhood of 150mb/sec.