I am assuming this is the Intel processor “Turbo Boost” technology. The technology allows a core (or multiple cores of a 4 or more core CPU) to run at greater than rated speed while other core(s) are idle. It has to do with heat generation and dissipation. It is an interesting technology that can potentially boost CPU performance. What you may see is dependent on what applications you have running. Intel has nice presentations on its web site discussing this capability.
As to what physical form the memory takes, that depends on the system vendor and chipset. Many laptops will run with a single DIMM or mismatched size DIMMs. Some will run faster (it varies and you may or may not can see a difference) if you use matched pairs of DIMMs. The new Intel core i7 will run optimally on 3 matched DIMMs provided the chipset implementation is set for tri-channel memory.
If you are not gaming or running a high end CPU intensive application then maximizing memory throughput may not matter in your use. The majority of business users fall into the not needing extreme throughput category.
For memory, 2 GB is fine for a 32-bit OS. If you have some memory intensive applications you can bump that to 3 or 4 GB.
Note that most 32-bit OSs on modern hardware can only use between 2.6 GB to 3.4 GB of RAM. This is a limit of the 32-bit OS address space.