Parallel of course. Series wiring would mean everything at a different voltage...
Why would AGP cards using a bridge cause the 123.5W to be rubbish? I can't imagine the bridge uses a vast amount of power (no heatsink). Ok you can knock off a few watts for the bridge, big deal.
Voltage stepdown accounts for 10-20% of power (6800U cards are known to have switching power regulators so they are relatively efficient), not 50+%. Still talking near 100W.
If you check the article you will see he measures the current from the molex connector going into the card. That's not going to be affected by other components, because he's measuring direct input to the card, not total PSU draw.
Unsure on fan power - will check mine later (it's no longer on my card so easy to verify power draw).
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