Well 2x2 or 3x3 or 4x4 or whatever means that they use a grid of that many pixels to interpolate a single onscreen pixel.
2x2 is 4 pixels whether on a nVidia card or a Voodoo5. The difference is that the V5 uses what's called RGSS and the GF uses OGSS. RGSS is a better FSAA solution, so with both cards are 2x2 or 4x4 or NxN the V5 would look a bit better becuase it's got a better FSAA algorithim. Of course if the GF can do 4x4 and the V5 only 2x2, the GF probably looks alot better. But FSAA is so slow on current cards it's next to useless anyways.
(In some instances it's pretty cool. Like older games that can't go above 800x600 or 640x480, but for the most part I'd rather play in 1280x960 with no FSAA than 640x480 with 2x2 FSAA. I think that when they fix the memory bandwith problem FSAA will be a well used feature, but for not it's just a check mark I think)
I don't know for sure if the Voodoo5 in 4x FSAA is 4 pixels (2x2) or 4x4 pixels, I think it's 2x2 though.