Is AGP still usable?

Right now I'm running a crappy GeforceFX 5500, was thinking of upgrading to the latest and greatest AGP card so that I could play FEAR and such.  Thinking about it though, I could alternatively upgrade to a PCI-E board and mediocre graphics card for about the same price (no ATI, sadly, as I run a P4).  However, around about this time next year I'll probably be buying an entire new computer.  Is it worth it to bother to do an extensive upgrade, or is AGP still good enough to get away with buying a AGP card?

don't get an agp card

I got an agp 6800 GT about a year and a half ago, and I question the decision to not upgrade to PCI-X. The life of a video card is significant. Your machine should be top-of-the-line for about three years after an overhaul like processor/moboard/ram/videocard, if not more