Its supposed to, but you will not see a difference. The ONLY difference for 2.0 is the voltage. The important thing is to get a faster GPU with good stream processing and good cooling. Even if the connection was 3.0 and you had an 8800GT it would look exactly the same as 1.0 or 2.0.
If you need confirmation, check the link below ^_^http://www.techspot.com/vb/all/windows/t-104966-8800GT-Need-help.html