PIII 733 & AGP vs Cel 1Ghz w/o AGP

I think I want to avoid spending more money on a desktop until Vista ships. I put together a 1Ghz Celeron (Tulatin) based machine on a Shuttle SV24 around the time XP shipped. It's been though quite a few changes, including a mobo and case replacement. The original board failed on me at a bad time, so I went out and bought whatever was available locally. It's mini-atx. Onboard video is crummy shared video, but I have a G-Force 4MX 64MB PCI card. Now, I bought a IBM 300GL desktop a two months ago. I paid about $20 for a really quiet desktop case with a PIII 733 slot 1 processor on a motherboard that supports AGP cards. I've been using it to play around with software. It's had Solaris, Fedora, Mandriva and probably a few others on it. Being a $20 investment, I hadn't previously considered moving the nicer guts of my Celeron system over, but hey, what if?

My use is mostly for web and email, so I've not felt the pinch too much. Rarely, I'll use my system for a little light gaming, but it's mostly appropriate for the age of the machine. The toughest software is UT2004, but I really prefer UT2003, which runs well on the Celeron. My biggest call for an upgrade is video and audio recording. I often rip DVDs to 3gpp video for my cell phone. It takes two passes, so it's currently a two-day job for one movie.

I guess, in short form, is a Celeron 1Ghz with PCI video a better basis for a machine than a PIII 733 with AGP? I suspect I'd lose on the video encoding, but win slightly on the gaming, assuming a decent AGP card, but I wanted to bounce it off someone.