That's called FSAA or full screen antialiasing and most graphics cards don't do that at all, at least not in their simple settings. The have special algorithms that speed things up by antialiasing only the edges of polygons, not every single pixel on the screen. Thus the edges of polygons get the AA treatment but the interior, i.e. the textures, don't. That's why, say, the window panes of the VH or the tower look staircase even with AA on (unless you select FSAA or some version of it).
I know that with my old 4850 card turning on 4X or even 8X AA reduces frame rate only slightly, but then it isn't AA'ing the textures.