One of the guys I worked with actually dropped over 2 grand in parts for bitcoining. ASRock Extreme 7 board and 4, 7970 cards. Over 2 Gigahashes. He's calculated that it'll take only 6-7ish months to pay off his computer at that rate, and from there it's pure profit. He pays flat rate for electricity where he lives, so he's good to go.
Basically after learning this, I started running a client on my little 6870 card, and am now in the market for a 6990 that will serve for a little extra cash when I go off to college. Can't go wrong with Dual GPU =)