In the nikon D300 as well as other nikon bodies with the AI ring, ther is a "mechanical communication" between AI lenses and the camera. If you configure the camera with the focal lenght and maximum aperture, then you will be able to use matrix metering and the camera will know the aperture.
If you don't enter the lens data in the camera you can still meter, but not in matrix mode, only center weighted or spot. The camera will not know the aperture value, but it will know how many f-stops from max aperture is.
This of course with AI or AI-S lenses. Older non AI lenses will work only stopped down (provided you can mount them without damaging the AI ring on the camera)