I am personally holding out for the new cards. As much as I would love to upgrade now, it doesn't make sense to me for the length of time that the 8800 has already been out to jump on. I have a 7800GTX that still works very well, however, it is borrowed from another system that needs to use it as well...
Oh and the system I am borrowing the card from is the one in my signature... the system I need a graphics card for is my new setup:
Intel E6600 @ 3.0 GHz (will clock higher, but don't need it at the moment, still doing file transfers)
Gigabyte GA-N680SLI-DQ6
4GB DDR2 PC-8000
Promise SuperTrak EX8350 Hardware Raid card
4x 500GB Seagate SATAII (In RAID 5 on Promise card... get 210MBps sustained speed!!!)
1x 150GB Raptor
OCZ GameXstream 700W Powersupply