Yes my GTX 480 eats up 1500mb at ultra with 4xmsaa.
Without AA it's 1200mb.
See this conversation going on a lot. I'd be interested in benchmarks comparing 1GB cards w 2GB alternative. In the review of the updated 560ti, they include 69501GB and 2GB and they both achieve identical performance, even at 2560x1600. I've seen similar results in every article I've read comparing the two. Shouldn't just broadly say "omg you need 2GB" because in a lot of cases it will make 0 performance difference and adds significant cost.