I'd almost get the x1950, who knows when an AGP nV 8 series card will be coming out - but by then the price will had droped sufficiently. I'd imagine nV is going to support AGP within the 8 series cards though there hasn't been any word of it that I've seen.
Since it appears that you are upgrading from AGP to PCIe and want the card to last the longest, I'd go for the X1950. That would last the longest before being overwhelmed by new games.
The other route is to buy the 7600GT now as only a temporary measure and upgrade to a DX10 card after the R600 comes out and becnmarks are available to tell which is better, the 8800 or the R600.
Guess it all comes out to the question of what your goal is. If its to put off the move to DX10 for as long as possible, then get the X1950. If only a stopgap before getting a DX10 card, get the 7600GT.
If you don't mind spending a bit extra, the X1950pro easily.
Well I do mind the extra money. If money was no issue I wouldn't be thinking about it. But if 7600GT doesn't cut it @ 1280*1024 it will leave me with 1 choice. I want it to last me till summer and play fairly well at the mentioned resolution.
It really depends on how you define Maxed out as you aren't really maxing out some of the GPU intensive games on a 7600GT. High details sure, no fsaa sure. But, Try Oblivion, COD2, Fear, and NFS:Carbon maxed out with a 7600GT.
In my honest opinion, yes you are. I am not saying you can't enjoy modern games at 12x10 res with the 7600GT, you sure can. I'm just saying if you buy one thinking you can pretty much max out all detials in every game and even run some eye candy, you are sure to be greatly dissapointed. Look over those charts above, it's not even close.
And that's what I want to make clear to the OP. Can he enjoy all games on a 7600GT at 12x10? Sure. But I'd hate for him to buy one thinking he can just crank all settings and remain at that resolution. I'd think he would be quickly dissapointed.