If you do feel like getting a new setup, you could definitely be looking at a chain-reaction upgrade situation. Here are some possibilities:
Socket754[*]Asus K8N "standard" with a Socket754 Athlon64
[*]1GB PC3200 DDR memory, can be a single module here since Socket754 processors are single-channel by nature
[*]A decent-quality ~350W-450W power supply,
here's a good buy on a 20-pin ATX Antec TruePower 380
[*]An AGP video card, perhaps a model with an nVidia 6600GT chip (good bang for buck)
[*]Maybe get a $10 Firewire card if you'll need Firewire
Keep in mind that a really old AGP card is dangerous to any modern AGP mobo. If it's Geforce-class or later, or a member of the Radeon family, then you're ok.
Socket939[*]Abit AN8 Ultra (unlike competing Asus A8N-E, this one has a fanless heatpipe cooler for the mobo chip, where the A8N-E has a noisy whiny fan)
[*]Venice-core Socket939 Athlon64 3000+
[*]1GB PC3200 DDR memory, 2 x 512MB kit of Kingston ValueRAM would be a safe bet here. Socket939 processors have two memory controllers, so 2 or 4 modules is what you want.
[*]A decent-quality ATX 2.0 (24-pin) power supply like maybe an Antec TruePower 2.0 430W
[*]PCI-Express x16 video card, again it could be a 6600GT if you want good bang for buck
I haven't kept up on the Intel scene quite as well, but the dual-core Pentium4 830 at 3.0GHz, combined with a compatible motherboard, DDR
2 memory, a PCI-Express video card and a pretty beefy ATX 2.0 power supply, would be one way to go. Or get a single-core Pentium4 with Hyperthreading. The Pentium4's can put out a fair amount of heat and you would want to keep your case airflow in mind so they don't approach their self-throttling temperature and begin to slow down on you.
/2¢ worth