Only if the OS has support for something like PAE. And again we're back to there being little or no software that could take advantage of the functionality (the one possible exception being blender, however given that when I last saw that software demo'd it was more unstable than Charles Manson I'm tempted to discount even that).
Lately I'm using the Sequencer part of Blender under OS4 for some basic video editing, I had so far a couple of freezes while quitting and a single crash during an MPEG4 encoding, while I never had any problem while working in the sequencer.
Varthall