I'm not sure I fully understand this stuff, so I'm reading about it and trying to explain it at the same time. So far, I'm thinking the AMD and Intel cases are slightly different, so lets start with Intel.
First, I think there needs to be a differentiation between FSB (bridge between CPU and Memory controller) and the Memory Channels (bridge between memory controller and RAM)
So, in a single channel memory config you are transferring 64 bits of data between the memory and memory controller, while in a dual channel config you are transferring 128 bits of data. This bus is run @ the memory speed (typically 200 MHZ x 2 for DDR - so 400 MHz effective speed). This equates to a 6.4 GB/sec bandwidth.
Now, on the FSB, you have only one 64 bit data path, so you do need an 800 MHz effective speed to realize that same 6.4 GB/sec data rate. Therefore, on the Intel solution, you would want to match a chip with an 800 FSB capability to a dual channel DDR400 RAM MoBo.
The AMD side is a bit different. Instead of an FSB, they have the HyperTransport link. I'm not sure how fast it operates on each chip, but I know the chipsets on the MoBo operate anywhere from 600 MHz to 1000 Mhz (coincidentally, 800 seems to be what most chips use).
So, on the AMD system the "FSB" is the HTT link, and is already operating @ the appropriate speed (and can be adjusted in the BIOS using various dividers that I am not familiar with)
So, I guess technically you would say "YES, you do need at least an 800 FSB on an Intel system to take full advantage of dual channel DDR 400 memory, and on the AMD system you'd need at least an 800 MHz HyperTransport link speed."
So, that's my best answer so far.
-D'oh!