I've done quite a bit of research lately on video cards too and have learned a few things about Radeons. The 32mg DDR version is a much more degraded version than the 64mg DDR. One of the best features was removed, the HyperZ. That feature is what allows the card to create 32 bit color for 3d at high resolutions and allows for very high frames per second. The memory was also downgraded and doesn't perform at the same n/s as the 64mg DDR Radeon. Both the core voltage and memory voltage are lower than that of the 64mg version too. I also think that the Radeons are incapable of being overclocked as well.
The 64mg DDR Radeon though is well worth the money at about $200 and has all the most current features available from ATI.
Plain and simple, if you ask me, definitely go for something else like a Creative Labs 3d Blaster Annihilator Pro with 32mg DDR, which has the GeForce 256 GPU. But if you're looking for a little better, then the GeForce 2 core is gets even better, and the GeForce 2 GTS is even better.
And another little tip, for the easiest search I've found for mega-cheap stuff, use Pricewatch. (www.pricewatch.com). This is where I've found all the best stuff.