This discussion sounds just like the discusions about the Voodoo 2 when it first came out: can I run it on a slower computer??? And you got the same "you are limited to slower video cards with that slow of a CPU" comments. I bought one (my first $300 video card. But not my last...). The maxed out V2 w/12Megs of ram and installed it in my P166 (that was one of the slow computers at the time...). The results? It flat out KILLED anything else out on the market at the time. Would it have run faster if I had a faster CPU? Yes. Could I have gotten better performance with my slow CPU with a lesser video card? No way in hades! And it was very nice when I upgraded to a 266 Covington OCed to 412Mhz!
So, if you can't afford to buy a top'o'the'line video card AND CPU at this time, figure out which one is hurting you the most. Is you CPU waiting on the video card? If so, buy the 9700 knowing it will be waiting on the CPU until you upgrade that component at a later date. Of course, if your current video card is already waiting on the CPU, then you will gain less if you upgrade the video card without upgrading the CPU first. In that case, pick up that latest greatest CPU and then upgrade the video card when you can afford it. And if you do upgrade the video card first, it's nice to know that when you do stick a hotter CPU in the box, it will get a very nice boost with the faster CPU as well.