I have a gigabyte GA-970A-UD3 mobo, and I was wondering if I purchase a gtx 295 if it would be possible to utilize this card on my mobo in sli, or would I need to get a board thats sli ready instead of crossfire?
Yes, the GTX 295 will work in the motherboard just fine. No worries at all. You just can't run 2 of them in SLI.
Honestly, in most cases, it is better to have a single, more capable video card/GPU than a CF or SLI configuration. There is an issue called micro-stutter that causes many multi-GPU config users a lot of trouble. And, then there is the additional power required and heat/noise generated by the additional video card/GPU.
I have two hd 4850's that I use sometimes and my single gtx285 almost always performs better while gaming. During benchmarks, the 4850s get just a slight slight better score, nothing to get to excited about though.