The card is in, and I've done some preliminary tests, which have me pleased!
On medium settings with my 512MB 4850, I was averaging in the mid 40's. Once I crossfired the 512MB card and the 1GB card, the framerate on medium settings jumped to the mid 70's.
On high settings with my 512MB 4850, I was averaging in the low to mid 20's. Once I crossfired, the framerate on high settings jumped to the mid 40's.
I haven't done extensive tests - this was only with one level of Bad Company 2. So it's possible that performance on high settings with CF will be worse than what I've seen so far, as some have suggested earlier in this thread (their point has been that the textures on high take up more than 512MB, so CF won't help since I'm still limited to 512MB). But right now it looks like Crossfire does indeed help on high settings, even though my vRAM is limited to 512MB