Yes those are low voltages. I ran a bloomfield at 1.35V for nearly 3 years and in the last 4 months it has lost just a few hundred Mhz for stability at the same voltage. Should last a while at 1.288V.
The Vdimm problem with +0.5V never really materialised as most overclockers needed to push more QPI voltage anyway as the uncore was the limiting factor in a lot of overclocks.