GF FX is not a competitor to the R300 chip (or radeon 9700 line).. the GF FX will compete whit the R350 line that ATI is making (not much heard of this yet, they're keeping the lid pretty tight). The GF FX has the specs to beat the Radeon 9700, how this works in real use has yet to be seen.
As for the G4 vs 9700... they're pretty close in performce whitout AA or AF enabled whit resoilutions up to and including 1024x768. But once you enable AA and FA the Radeon 9700 kicks the crap out of the G4. Also when you go beyond 1024x768 the Radeon 9700 really starts to shine performance wise. All this is also whit 32bit not 16bit.
Personally i think the GF FX will be a problem card for a while considering that this is the first Nvidia card that has AA and FA options. Will most likely be some growing pains whit those options for a while.
Incase you wonder what i base my analasys on the G4 vs R9700... i've used them both in my system... hehe.
To put it simply, if you don't mind jagged lines, less clear textures whit lacking performance past the 1024x768 res go whit the G4. If you want AA and FA, running games at resolutions past 1024x768 then go whit the 9700.
I'd go whit the R9700, because well once you've tasted AA and FA you never want to go back to whitout them hehe
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