Depends on the efficiency. Better units tend to offer more efficient designs, so the loss is minimal.
The 8800GTX, which draws more power than the 8800GTS consumes up to 185W under load. 12V x 20A=240W, which is more than enough to cover it. The second rail would service the CPU, SATA drives and fans.
Take a look at
SLI Zone's power supply listing. It will show what power supplies are SLI Certified for which graphics cards.
What you linked is true, but what I said is also true. The 8800GTS big brother consumes at most 185W, although some have said it's more around 150W. Assuming it's on a +12V rail with 20A, you have 240W available.
A separate rail would feed the CPU, hard drives and fans. A high-end CPU may consume, 100-110W, while fans and hard drives ask around 5W.
The link is correct that there's unused wattage there. However, it only becomes a problem if the power draw on a rail exceeds what it can provide. Most good power supplies are 80% or greater when it comes to efficiency. This would allow at least 192W.
Also, what you linked is from PC Power & Cooling, who, while do produce some good power supplies also seem to yap about a lot that has come to be less of a deal than they've made it out to be. It is biased in the way it's written.