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Are you sure the 1mb is the actual uplink speed? A lot of times they sell you a connection based on its speed DOWN, and the upstream is MUCH less.
That said, if it really is 1mb/s, your server ought to do fine for 100 visitors. Drupal isn't a lightweight, but I think the network throughput will be your bottleneck, and it'll depend a lot on the composition of your payload. Three people simultaneously downloading scanned architectural blueprints will squash it real fast. But a few people round-robbining smallish dynamic web pages at once shouldn't be a problem.
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