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a low-mid range card (like the 7670) won't profit from 2GB of ram and make sure the card you buy has GDDR5 ram - 1GB of GDDR5 is way better than 2GB of DDR3

and the term "dedicated memory" just means it's ram on the card opposite to "shared memory" where the card uses the system memory (which is slower and at most DDR3 aswell)