There's a definite upside to the ongoing price war between AMD and Nvidia: dirt-cheap enthusiast-class GPUs. GeForce GTX 260 "Reloaded" graphics cards with 216 stream processors were selling for around $230 a few weeks ago, but today, Newegg offers a "factory-overclocked" BFG variant for just $178.99 before shipping.
The BFG card has lifetime warranty coverage, but if you don't mind a shorter warranty, MSI's GeForce GTX 260 is also an interesting choice at $189.99 before shipping (or $159.99 after a $30 mail-in rebate). The card comes with Far Cry 2, and it's clocked significantly higher than its BFG sibling.
On the AMD side, you may also like PowerColor's Radeon HD 4870 1GB, which is available for $189.99 before shipping (or $169.99 after a $20 MIR). We haven't tested that card's third-party cooler, but Newegg reviews seem reasonably positive overall, and PowerColor clocks the GPU and memory slightly above standard speeds.