Today, I bought a Craftsman clamp-on meter and measured the power consumption of 2 of my video cards, at idle and 100% ALU load (with one of my GPGPU app - an MD5 bruteforcer):
Reference design Radeon HD 4850 (114W max TDP):
- PCI-E slot 3.3V rail idle: 0.8A (2.6W), load: 0.8A (2.6W)
- PCI-E slot 12V rail idle: 1.0A (12W), load: 3.3A (40W)
- PCI-E 6-pin 12V power connector idle: 2.4A (29W), load: 4.6A (55W)
- Overall idle: 43W (38% of max TDP), load: 97W (85% of max TDP)
Sapphire Radeon HD 4850 X2 (230W max TDP):
- PCI-E slot 3.3V rail idle: 1.2A (4.0W), load: 1.2A (4.0W)
- PCI-E slot 12V rail idle: 2.4A (29W), load: 2.4A (29W)
- PCI-E 6-pin & 8-pin 12V power connectors idle: 4.7A (56W), load: 14.2A (170W)
- Overall idle: 89W (39% of max TDP), load: 203W (88% of max TDP)
(I actually still haven't received my flexible PCI-E extender. So the way I obtained measurements for the PCI-E slot power rails was by comparing the draw on all the PSU output rails (-12V, -5V, +3.3V, +5V, +5VSB, +12V) with and without a video card. Also according to my clamp meter doc, it is only 5% accurate. So take these numbers with a grain of NaCl.)
First remark: for both cards, power consumption on the 3.3V rail is negligible (< 4W) and never seems to vary whether at idle or 100% load, which I expected since they draw most of their power from the 12V rails.
Also, notice how the 4850 was carefully designed to ramp up the load equally on the two 12V rails (slot & power connectors) as the load increases to 100%: 3.3A on the slot 12V rail corresponds to
75% of the 4.4A allowed by the PCI-E 1.0 spec, and 4.6A on the 6-pin connector corresponds to
74% of the 6.25A allowed by the spec.
Conversely the 4850 X2 was designed to limit the current at 2.4A on the slot 12V rail whether idle or under load. Which means if one was to design a system with 4 GPUs, it would be much easier to find a mobo capable of supplying power to 2 4850 X2 (2*2.4A =
4.8A to the slot 12V rails) instead of 4 4850 (4*3.3A =
13.2A to the slot 12V rails) !
Also I cannot seem to make them consume more than 85% or 88% of their max TDP. The rough estimation I made earlier with my kill-a-watt ("not able to reach more than about 80% of the TDP") was pretty accurate

The definitive answer as to how much current is drawn from the slot (3.3V and 12V rails) at max load is 42.6W for the 4850 and 33W for the 4850 X2. Which raises the question: would they even work in a slot advertising a 25W PowerLimit such as 2 of the blue slots on the P6T6 ? From experience, I would say yes. I don't have access to the latest PCI-E specs (they are not free). But maybe an explanation is that the PowerLimit value only applies to the 12V rail. Maybe there is a high +/-10% tolerance. Or maybe vendors don't fully respect the specs and implement hacks/workarounds for power-hungry video cards.