There is no difference between a Mac and a PC in terms of hardware -- it's all CPUs, GPUs, memory and hard drives. Mac's don't use special memory -- they use standard memory, just like PCs. They don't use special video cards -- they use standard cards with Mac firmware. They don't use special hard drives -- they use standard IDE/SATA hard drives like the rest of the world. There has never, ever, ever been anything proprietary about Mac computers, even before they used Intel processors -- they still used standard SCSI and/or IDE hard drives, PC-66/100/133 memory, etc.
The only thing "special" about Mac computers was the motherboards, and even then, they were still in line with what was available in the industry.
Think of it as the difference between Windows and Linux -- both run on identical hardware, but they're just different operating systems. The same hardware troubleshooting guidelines still apply.
It does look like the video card could be going south. Your best bet would be to take your computer in for service and have someone look at it.
Does the video do the same thing if you log in under a different account, and/or boot from the Restore CD/DVD that came with the computer?