It'll still work, what it means is that the lowest you can set PDs inbuilt limiter too is 100KB/sec. If you can't do 100KB/sec, the limiter wont really matter.
By the way, you need at least 40GB disk space because PD demands that much for its cache files. Also, it'll download 2GB before it takes you download choices as anything more than suggestions (it'll still download, just that it prioritises automatic cache downloads instead of things you choose until you hit 2GB of 'Unity' cache files).
It's definitely designed for Japans super connections, but it works fine even on crappy Australian failband connections.