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For a lot of games, you will not hit the 2GB limit. Once you do though, there is some hitching and such from the lack of vram. I am not sure if this affects FPS, I imagine it does, but not sure how exactly. Perhaps only when it is swapping out does it affect FPS? Not sure.
But yeah, 690 on 1440p to have the 690 last a while, I would not have done that personally. We mentioned in a couple of your which GPU threads to not go 2GB card... oh well. It should be fine for a bit, no doubt, but I would move on to a 3GB card at 1440p for sure.
Depends on when you bought it.
Seriously though, it's only a mistake if it can't play the games you want it to play at the resolution you want to use. If it does that, than it was a good purchase for you at the time. The GTX 690 had inadequate vRAM when it started. They should never had limited it to 2GB/GPU. That said, all that means is that your GPUs need to work harder, processing more information faster to make up for the lack of buffer. As long as they can do that fast enough for you, your card is just fine.
People lose sight all the time of what is most important - does the part you purchased do what you need it to do? If so, then it was as good of a purchase as you needed it to be.