The vendor -should- be providing some kind of warranty with the refurbished card. As long as you are happy with it's length and terms then you can consider it. However, the difference between full price and refurbished isn't that great (relatively) so you may want to consider the full price version and thus reduce any uncertainty/risk.
I don't know much about the seller - if you are comfortable with it's reputation and they were the ones to refurbish it then this may swing your (and our) decision to the refurbished one since the risk of failure is acceptably low. However, if you want this to last a few years, then...(damn risk factors again)....maybe......the new one.
I'm on a mega budget, so I think I'll choose the refurbished one.