No not yet, it does drop fps about 5% if your using dual gtx580's and a 30 inch monitor with tons of aa.
You are probrobly good untill the high end dual gpu's hit next month, then it might make some difference.
How many of us are gonna run a 700$ card in a pci-e 1.0 slot? not many.
PCI-E 1.0 is equivalent to PCI-E 2.0 at half the bandwidth. So PCI-E 1.0 x16 is equal to PCI-E 2.0 x8.
With that said, PCI-E 2.0 x8 (and hence PCI-E 1.0 x16) is plenty sufficient for modern graphics cards (usually 1-2% performance loss). Even PCI-E 2.0 x4 only has a ~5-7% performance loss.
Actually wouldn't PCI-E 1.0 x16 be closer to PCI-E 2.0 x5? 2.5GT/s compared to 8GT/s. Even then you are right with the performance lose though, it is very minimal for anything other then very high resolutions(over 1920x1200) or multi monitor setups.
Pretty sure PCI-E 2.0 is 5GT/sec. PCI-E 3.0 was supposed to be something like 8GT/sec.