8800GT is 2 generations old, almost 3 generations with the new cards coming out within a month or so.
That said, its still a pretty good card.
I run a HD4850 and at 1280x1024, (forgot w/ or w/o AA) still can't run it consistently above 30s with decent action. I don't mind slower fps but its the jerkiness/stutter that's really distracting.
That said, maybe I'm doing something wrong. I just recently fired up Oblivion with a bunch of the new mods like Qarl's Textures and Improve Flora, etc. I can't believe it, 3 years old and with modifications, i STILL get framerate stutter. Its definitely nice and playable still.
Anyone that owns a PC copy of oblivion HAVE to check out the mod scene on it, its incredible.