i think the first cards with 512MB buffers that will actaully matter will be the G70 and R520. From what I've heard, the cards will likely be 24 pipeline designs and will probably start with 1.4-1.6GHz GDDR3, and will eventually probably transfer into ~2.0GHz GDDR4. With this amount of memory bandwidth and the fillrate potential of 24 pipes, I think they might be able to run games like Doom3 and Unreal3 based ones at high enough resolutions to see a difference in performance with 512MB cards.
For current generation parts it's pretty pointless. It's about as useful as a 256MB 6600 non-GT - by the time you're running at settings that use that large of a framebuffer, the performance has already dropped to way below playable. Just save your money. I'd either 1) Buy an X800XL or 6800GT (both are typically sub-$300 now) or 2) Buy a 6600GT for $150ish and then sell it later this year so you can buy a G70 or R520, both of which should be announced at CeBit, although i hold more faith in nvidia's part being available first given recent product launches.