There are two basic uses for video ram: One is to merely display the colors and resolution, another is to process 3D related items (like lighting, etc.).
For basic desktop prettiness, the more VRAM the more colors you can display at higher resolutions.
For example, my 2MB of VRAM 7300 can only display millions of colors up to 832x624, a pathic resolution. If I added more Vram, I could see millions of colors at say 1280x1024 or 1600x1200 (if my monitor supported it).
Those 3d cards with 32MB and 64MB of ram use it mostly for 3d gaming. Speed depends on the GPU and the speed of the RAMdac.
So the answer is: Buy a new computer. That is Apple's answer for all computing problems.