"but whats the point....
gf3s are still limited by the speed of the ram... right?"
Actually, GF3's aren't as constrained by the RAM as much as GF2 cards, since they have some bandwidth saving technology in them. They get a boost both from the core and the RAM when oc'ing.
BTW the Poseidon cools both the gpu and the RAM on the card. At least that's what it says on the page and what is shown in the picture.