I recently replaced my X800 with a 7600GT. Since my board has two PCIe slots, I decided to see what would happen if I put both cards in, and connected one monitor to each, rather than both monitors to one card (I had no intention of keeping it this way if it worked. I just wanted to see). I know that either slot will work in OS X, as I was able to get video on either card, but only one at a time. However, I wasn't even able to get both monitors to work at boot, so I don't think the limitation was necessarily OS X's. Even though both were PCIe, switching the graphics order from "PCI/PEG" to "PEG/PCI" changed which monitor would come on. I wish I had two of the same card to test it with, as I think there'd be a better chance of it working.
I haven't seen any posts about whether this works or not, but I'd be interested in knowing if anyone has gotten two PCIe cards to work at the same time in osx86 (and also if 3-4 monitors have worked with this setup)