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Just make sure you have an adequate power supply.
If the max setting is 2.0x16, then you have an older motherboard, and you cannot set it to 3.0.
You can put PCI express 3.0x16 compatible GPU in a 2.0x16 slot. PCI Express 3.0 is faster than 2.0, but I doubt you would ever be able to tell a difference.
Thanks Ray_M and qwix for the reply, and I have read several of those forums QWIXT right before posting this! They were very helpful, but I wanted to make sure before I go out and spend money on a new video Card.