The MegaChip board is exactly what its name implies: a megabyte of chip RAM. You'll need a 2MB Fatter Agnus and Super Denise to get the total of 2 megs of chip RAM to work on your system. Since you have a PAL motherboard, the ECS chips will automatically default to PAL mode.
The Zorro 2 memory limitation only applies to systems without a 32-bit accelerator card with RAM on board. On an A1200, for example, you have a 68ec020 with 24-bit addressing. You can add up to 4 megs of RAM and use PCMCIA network cards and it will work. If you add 8 megs of RAM the PCMCIA will stop working since its addressing space has been mapped into RAM expansion.
If you get an '030 accelerator for the A1200 that supports Zorro 3 RAM addressing, you can hook up as much memory as your accelerator supports and still use the PCMCIA port since the 32-bit addressing of the accelerator card will fix the address space limitations.
Just be sure that, if you do get a 32-bit accelerator card, use 32-bit memory to get the full speed increase out of your accelerator card. The Zorro 2 RAM expansion on your motherboard will only be 16-bit.