No, actually 1.05V is 2D mode, the card apparently gets the full 1.1V for 3D mode. For anyone who wants to void their warranty I have found a voltmod (courtesy of our friends in Xtremesystems)for the 8800GT, there is also a pencil mod for the memory which should give some more speed, for any pencil mod beginners....the pencil mod (2B pencil recommended)can be easily reversed with some normal cleaning fluid used for CPU cleanup and a cotton wool bud, you can try the pencil for the VGPU but it's unlikely to work as the resistance is already set so low, that will need the soldering iron, it looks a little too "busy" for conductive ink.
As always, aftermarket cooling is advised, dont waste a perfectly good card by ignoring that! Indications in the thread are that the GPU could take 1.4V!!!! If I get one of these cards I personally wont risk beyond 1.2V which is easy enough if you use a variable resistor but if you are using a fixed one (meaning the increased voltage will be running 24/7 as opposed to being able to increase or decrease when needed on a variable) than you need to calculate the resistor required, I can help anyone with that that is a novice to the soldering iron.
I am of course not suggesting anyone do this, I meerly post for information.
http://www.xtremesystems.org/forums/showthread.php?t=163929