I believe two 8800 Ultra cards in SLI hang with the GTX 280 in Crysis. My understanding is the Crysis devs optimized for the 8800 series cards. But, since Crysis 2 is coming out soon, I'm not sure what's in store.
However, I will definitely say that Nvidia has better drivers and software support than ATI. Also, ATI has a higher rate of failure and DOA. Overall, you might save some money on ATI, but it might be payed for in the trouble that comes with it. Nvidia gives you what you pay for. Besides that, Nvidia has optimizations like Physics and CUDA, among other things. With Nvidia Physics, the Physics load will be relieved from the processor. Then you are less likely to be bottlenecked.
A prime example of Nvidia software quality superiority: Folding @ Home. Nvidia cards can process F@H independently, and reliably without the help of the processor. ATI tried to compete with Nvidia in this field. Yes, ATI released drivers and software for F@H. But it usually crashes several times before ever finishing a WU (work unit). Does ATI care? No. As long as they can say they have the ability, that's all that matters, because then they can sell more video cards.
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It might be a good idea to wait for the GTX 4xx series release. Prices will drop and maybe you can pick up a GTX 285 for cheap. It looks like the GTX 470 might be in the $350 range.
http://www.newegg.com/Product/Produc…N82E16814130550
GTX 285 is currently about $350-$400, but the GTX 470 is possibly twice as fast with more 'stream processors'.
http://www.newegg.com/Product/Produc…N82E16814143190