I thought I had answered but...
It depends not so much on the hardware, but on how many animations/how big each frame is (in pixels) and how many unique sprites you wish to use.
if the game is going to be like A Link to the Past, which had about 1/2 different tree types rocks etc. at a modest resolution, than you would most likely be okay.
However, if you had a bunch of different characters at high resolutions with many animations/frames, than you will quickly use up the VRAM.
The way construct works right now is by loading ALL graphics into VRAM on start.
There are ways of outsmarting this (like replacing a seldom used frame with another image at run-time[yes, this does indeed work .])
I wouldn't suggest a super big project, but I'm nearing the completion of a moderate-to-big project, and i'm only using about 97.0 VRAM (i'm using pretty high resolution character sprites IE: 512x512)
Try putting in all the graphic assets you would most likely be using (or similar graphics from another game/project) and check your VRAM (using the debugger)
This is a good way of seeing if your assets will be viable.
I hope I was of some help.
*note: you don't HAVE to build a level editor to save VRAM, but it will help you get the most out of your graphics, even if you don't think so right now)
Excuse me if I said anything stupid but I only got 3 hours and 15 min. sleep last night