Well, I just had my question answered over at bit-tech.net.
Turns out the
actual memory clock speed is, in fact, 800mhz. However, the
factual clock speed is 1600mhz. Why, I hear you ask. Well. The memory on most modern graphics cards are, wait for it, DDR. And DDR means Double Data Rate. So, presto, my measly 800mhz are actually twice that which would mean that if I crank the overclock slider to 960mhz I get... *mumble*... lots of mhz which is good and stuff.
I'm like Mr Rogers.