So in the end, is it advisable to keep the 2x512MB that comes with the base config (assuming I am upgrading to a 4x1GB or a 2x2GB) or sell it off?
Installations notes:
4x1GB+2x512mb: install 2x1GB on riser A, lowest slots. install 2x512mb on riser A upper slots. install 2x1GB on riser B, lowest slots. [this will give you 4gigs of full bandwidth ram, nice. plus the extra gig of half-bandwidth if you happen to spill over 4gigs, but less than 5gigs]
2x2G: install 2x2GB on riser A, lowest slots. install 2x512mb on riser B, lower slots. [this will give you 2gigs of full bandwidth ram, plus an extra 3 gigs of half-bandwidth ram.]
--- those installation configs assumed ---
The only benefit with purchasing the 2x2G is that "later" you can go buy another 2x2G for a 4x2G config [8gigs, full bandwith] that still has room to expand upto 16gigs in the future. You do this at the cost of having half-bandwidth ram if you are using over 2gigs untill you go purchase your other 2x2G chips (which I assume you must be doing if you are thinking of upgrading to 8gigs, and even want to leave an 'easy' option for 16gigs.)
With the 4x1G purchase, you still have the ability to go out sometime "later" and purchase 4x2G and sell off the 2x512mb to give you a massive 12gigs RAM, all while having loads of full bandwidth ram all along your upgrade path. The downside here is that in order to upgrade to the full 16gigs you'd have to also sell off your 4x1G ram in order to install that last 4x2G.
The extra RAM will not hurt you, it can only help (albeit at half-bandwidth).
In the 2x2G case, if you sell off that 2x512mb you are shooting yourself in the foot, giving yourself 0 gigs of full bandwidth ram and 4gigs of half-bandwidth ram.
In the 4x1G case, if you sell off that 2x512mb you give yourself 4 gigs of full bandwidth ram. You will have, however, shot yourself in the foot if you will be using over 4 gigs of ram, but under 5 gigs of ram.
All of that being said, if you are know you are going to be using more than 4gigs of ram, do yourself a favor and bite the bullet and go get 4x2G. You'll get 8 gigs of full bandwidth, 1 gig of half bandwidth and plenty of room to grow.
For many people 4 gigs of RAM is 'enough'.
So there ya go. "It depends upon your needs." Hopefully that gives you enough information to decide.