The claim of a 700,000x speedup makes me suspicious of pretty much everything else about the work.
That is why database servers usually have the fastest discs money can buy, as much memory as you can fit in there in order to keep as much data as possible in main memory and the largest possible caches to avoid hitting the relatively slow memory bus as often as possible. The situation becomes much worse if the database is not read-only because all changes have to be persisted and you have to hit the disc on every change.
Therefore I think using GPUs will buy you nothing for common database application - processor speed was never your problem. But this does not exclude the possibility that there are operation, for example correlating millions of data points from your data set, where the processing power of GPUs comes handy, but this is most likely not what you will see in one of your line of business applications.
The number 700,000 is probably the result of a highly tuned GPU implementation versus a general purpose CPU implementation. A quad-core Core i7 at 3.0 GHz has a theoretical peak performance of 96 GFLOPs [1], the currently fastest supercomputer peaks at 27,112,500 GFLOPS (Titan, 560,640 cores, 8.2 MW [2]). 700,000 times the mentioned Core i7 is still more than twice the performance of Titan, 67,200,000 GFLOPs.
[1] http://stackoverflow.com/questions/15655835/flops-per-cycle-... [2] http://www.top500.org/lists/2012/11/