Is it time for a new build

I'd say we would need some more info first to comment on this.
How long have you been running your current system?
What is it that your current system doesn't do well enough?
What resolution do you use for your monitor?
What size power supply do you have?
What type of case do you have?

Depending on what u do with your system it might just need a few upgrades.

thanks for the reply's  

round 2 years now
i like to jump on to the next ship a bit before the PC become next to worthless on ebay
twin monitors 1080p
500w psu

case: http://www.silverstonetek.com/products/p_contents.php?p... (M-ATX)

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i use it for video editing, alot of gaming, web development media centre, does pretty much everything lol

It really depends on what you can throw into it. If your budget is only a few hundred, you would just be able to make a few upgrades. If you can wait, then either sandy bridge or Bulldozer would be a great choice.

It is entirely up to you.

If you have to ask the question...It is time.

That said, your system looks quite competent to me. But as an enthusiast, you may be looking for any excuse to change your system for the latest and greatest.
Do you have someone that needs your PC?
I find that selling the parts individually on e-bay is more productive than selling the whole package.

You might want to upgrade parts individually.
Like a SSD, or a great graphics card.

Sometimes people get that itch for an upgrade without any clearcut reason. Often it just seems like it's 'time'.
For those folks I recommend doing upgrades in two cycles (sort of a Tic - Toc approach).
On the "Tic" cycle upgrade your processor + (if necessary) the motherboard (+ new RAM if required by the motherboard change).
On the "Toc" cycle overclock your existing CPU and upgrade video card.

IMO, it sounds like you are in the 'Toc' cycle.

Your 500w PS should support overclocking CPU and a new GPU.
Just pay close attention to the size of the graphics card, since that case lists a max card size of 10.5 in. There are plenty of sweet cards that will fit that, but a couple that are over so I would rule those out.

Your build can still play new games. Personally you don't need to get a new build.
Also others have stated, what is the budget you will be working with? If it is something like 500$ or 600$ wait a little, till you get a budget like 800-1000$.

I personally just want to get SB not because my 955 is old or my system is dead. But because I use CPU intensive apps and I'm dying for a more productive PS5 chip. But another reason is because 32nm will allow Sandy Bridge to overclock crazy high (4.0ghz+) But are those reasons for you to upgrade/new build. That's for you to decide.

cheers guys, ill probz hang on a bit more, its as copamundial said, just a bit of an itch really lol,

while looking for upgrades however it seems most places dont sell AMD2+ processors any more so any upgrade would mean replacing the mobo as well, may as well go the whole hog and renew if thats the case  

.... the Phenom 955 is still an amazing chip. I still use mine and it runs just fine

wait 2-3 months till amd releases their new stuff