I'm going to Build a new PC (core i7) What would be the better choice for a Video Card? I would like the best proformance and image quality!
ATI FirePro™ V5700 Workstation Graphics Accelerator or GeForce GTX 295
I don't play any games so I will be mostly using Photoshop CS3 and CS4 for large PSD and RAW image files, CD, DVD, BluRay encoding and every day computing
If you're not a gamer and not doing serious 3D work you don't need to spend that kind of money, IMHO. You can spend <$100 on a card and get the same general 2D image quality as the more expensive cards you've listed.
I'm not a fan of ATI because I've always found nVidia drivers more trouble-free. TBH, you could go with an nVidia 8400GS and you'd be just fine for your needs but since you've got a larger budget why not look at something in the $100-$200 range?
get a hd4670/9600gt. but if adobe is still pursuing the CUDA enchanced version of their photoshop CS softwares, i suggest you go nvidia. but seeing you seem to be the guy who can afford, a 4870/gtx260 should be modest enough for your rig. a 295 would probably be overkill
image quality is subjective. i have yet to meet a guy who can differentiate 10000000000 shades of red/green/blue in a rendered scene.
Is this for professional use? If so I suggest you contact Adobe for advice or look through their forums. It would be false economy to save money by purchasing a gaming card if it`s going to slow our workflow.
If not any mid/upper end card will suffice although I`d probably suggest a Nvidia card because I think they have better hardware acelleration for Photoshop, look to the 9800GTX/GTS250 or GTX260.