Yes and it can damage anything on the mobo too. I was lucky when I fried my crappy 450W PSU, 1 week after building my rig and I only have a 6600GT! Spec on in my profile. I now have the OZCModstream420W.
I literally blew up the old PSU in a puff of smoke. My heart just stopped and a loud OMG came from me.

Please do yourself a favour and get a PSU that can handle that beast of a card. Go here to calculate what you really need and then add 30%:
http://www.extreme.outervision.com/

Cheers.

 

Thanks

I had the card running with a common house fan at full and it worked
Specs:Time of this report: 4/3/2006, 16:31:26
Machine name: TRE-1980
Operating System: Windows XP Home Edition (5.1, Build 2600) Service Pack 2 (2600.xpsp_sp2_gdr.050301-1519)
Language: English (Regional Setting: English)
System Manufacturer: n/a
System Model: n/a
BIOS: Award Modular BIOS v6.0
Processor: AMD Athlon(TM) XP 2800+, MMX, 3DNow, ~2.1GHz
Memory: 1024MB RAM
Page File: 272MB used, 1425MB available
Windows Dir: C:\WINDOWS
DirectX Version: DirectX 9.0c (4.09.0000.0904)
DX Setup Parameters: Not found
DxDiag Version: 5.03.2600.2180 32bit Unicode