I don't think ATI have released any pricce info on the Radeon 8500. But it looks like a really good card.
If you Buy a GF3, GF3 Ultra, GF3 Advanced or whatever or the Radeon 8500, you'll be OK for a few years to come. With the other cards you'll almost certainly have to upgrade again within a year or two max.
I'd say no matter what your cpu speed is, if you can affor it, get the best of the cards. Obviously, you can only get the best card you can afford. It true that getting a fast CPU will give you advantages in all different apps. But except for specialist apps like 3D Development tools (3D Studio Max, Maya, Lightwave etc.) and cryptography tools etc., most programs will run happily on your CPU. Although upgrading can make the system feel more robust. Besides a Gigahertz CPU doesn't cost that much.
If you play your games at high resolution, in systems above around 800MHz, the graphics card is usually limited in memory bandwidth. Also, the T&L cards do most of the work them selves, so getting a faster CPU doesn't help that much. The non T&L cards make the CPU do most of the work, so getting a faster CPU does seem to show some improvement. Plenty of new games are considering having pretty complex physics engines that should make the CPU work for its money.
So, at the end of the day it comes to a simple advice. Get the best system you can afford. Getting "Bleeding edge" technology would probably mean paying a high premium. So, if you get stuck in choosing a High end Graphics card and a mid range cpu, or a mid range graphics card and a High End CPU, I'd say go for the first option. CPU power is abundant these days.
<font color=red><i>Tomorrow I will live, the fool does say
today itself's too late; the wise lived yesterday