I wasn't saying anything about whether the GF3 was good or not. I honestly couldn't care less about whether it is the best currently available. I was wondering why you thought it was necessary to buy it IMMEDIATELY instead of waiting 6 months and picking it up at a much lower cost.
Frankly, I think this is one of the worst times to buy a graphics card. Nvidia has come out with their pilot graphics card (aka GF3) which will set the stage for what is to come in the future. None of the features are used yet, and none of it's extra speed is really required. Because no competitive product is on the market, the price is insanely high.
In 6 months the following things will happen: 1) A newer Nvidia card will hit the market, 2) ATi's newest offering, the Radeon II will hit the market. 3) Cards from BitBoys (unlikely), S3 and Matrox will hit the market (my money is on S3). 4) Thanks to the previous 3, graphics card prices will drop dramatically.
The thing to keep in mind is Nvidia is not really driving the graphics market. They're just sort of orienting the direction it will go in. Nvidia needs ATi, and others to release cards supporting the same new features as the Geforce3, if they want to have any serious hope of having them supported in games. Nvidia may have released a product now, but things don't start to get exciting until the other guys' products hit the market.
In short, Nvidia's 6 month cycle, gives them the advantage of dictating where the graphics market will go in the future, but competitively, I don't think it really gives them much real advantage over those with 12 month cycles. Hold off for the future, it looks much more bright and eventful than the currently bleak graphics landscape.