All right pike. If you're going to get a whole new setup not too long into the future, I would recommend getting a video card that would we good enough for the new PC as well.
If I were you, I would buy a GTX 560Ti, those should be reasonably cheap now, cause they're not *really* bleeding edge, but there is no game on the market today (and probably won't be in the next couple of years) that won't be playable on that card. This card performs about 30% better than my own video card, which is a GTX460 (the mid-end model from a year before the GTX560Ti), and I even with this card, I can play all current games with relatively good graphics. Games that are mainly PC games usually work fine on medium settings at 1920x1200, and games that are made consoles and then released on PC i can play on maximum or near maximum settings at the same resolution.
If you think the GTX 560Ti is too expensive, you could drop the "Ti" version and go with the regular version. I would however recommend against buying the "SE", because the SE is weaker than the regular version. If you're not sure which version you're about to order, just link to it and we'll be able to tell you.
Your current CPU and motherboard might not have enough juice to feed the 560Ti with data as fast as it can process it, so you probably won't get as much as possible out of the card yet, but it will still let you play games with as good graphics as any current console. However, when you upgrade the rest of your PC, you'll be able to squeeze every bit of juice out of it, and your games should start performing and looking several times better than what any current console can push out.
A GTX560Ti will fit (and work with) your current motherboard, but what might be a problem is the power supply in your current PC. If it is kind of old (PSUs degrade with age, because the capacitors inside them can dry out, leading to a lower maximum output than what they had when new. 5 years is a bit old for a PSU), and not more than 400W, this card could push the PSU dangerously close to its limit, and that could lead to it dying. A new, and decent brand PSU at 450W should be sufficient to run a GTX560Ti, but if want a little more headroom, you could get one that's 500W or 550W. Personally, I seriously doubt you'll need more than 500W if it's from a good manufacturer.
For a real life example, my PC has been running perfectly fine for 3-4 years with my current 450W Corsair PSU, and my PC has a GTX460 (which has a power draw not significantly different from a 560Ti), an overclocked Core 2 Quad CPU, 3 hard drives and a DVD drive. There's also some other stuff in it, but it doesn't make a significant impact on my total power draw. I measured the amount of power my PC consumed with a watt-meter a year or two ago, and it wasn't using more than around 250 watts while playing a game.
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