Although FCP will run on 640mb, you will need 1GB or more to save yourself a lot of hassle with slow running and rendering, as well as the potential for crashing.
If you are using a lot of effects and transitions, or a range of video sources, or running other applications at the same time, in other words anything other than a straight capture, cut and export, then you probably want to go for 2GB.
There is no video editing set-up that is capable of full-power real-time editing and rendering under all circumstances, so spend the maximum you can afford to give yourself the least interrupted workflow!
That said, if you are a patient person, and allow the machine time to catch up with you, then you can get by with pretty much any set-up over 512mb.