What matters at the end of the day is bandwidth. Bandwidth can be calculated my multiplying the Effective Memory Frequency by the bus width.
To calculate the effective memory frequency, multiply the frequency by 2 if its DDR3 or 4 if its GDDR5. Most of the figures you see in advertisements will already do this. For instance, a 5770 uses GDDR5 running at 1200MHz, but the effective memory frequency is 4800MHz because GDDR5 can perform 4 operations per cycle. DDR3 only performs 2, so 1200MHz DDR3 effectively runs at 2400MHz.
Bus width is pretty straightforward - higher is better.
To calculate the effective memory frequency, multiply the frequency by 2 if its DDR3 or 4 if its GDDR5. Most of the figures you see in advertisements will already do this. For instance, a 5770 uses GDDR5 running at 1200MHz, but the effective memory frequency is 4800MHz because GDDR5 can perform 4 operations per cycle. DDR3 only performs 2, so 1200MHz DDR3 effectively runs at 2400MHz.
Bus width is pretty straightforward - higher is better.