David already gave an answer for the maximum file size, so I'll address the speed issue.
Size of the DB alone isn't going to be deterministic of speed. 150 MB is nothing for an Access Jet DB. I've run Access MDB files well into the GB range with no noticeable performance issues. However, the larger the individual tables get the more important it will be to implement a good indexing strategy and architect the databases for optimal performance. This is pretty much the case with just about any DB engine, Access Jet included.
Also, the limit for an MDB isn't necessarily the upper limit on the total size of the data you can manage in a single application. With some clever architecture you should be able to split the data into multiple MDB files and link them into your application.