Actually I'd say the exact opposite. Video cards are the cheapest they've been in a very long time, perhaps ever. You can buy a near top of the line card for about $200-250 these days. The only card that is really expensive right now is the 8800 GTX and the Ultra. Just a few years ago building a top of the line PC would cost you $1800 or more. To make it worse, a top PC then couldn't really play next-gen games very well. I remember when the 5200 was about $500, and it turned out to be a horrible piece of garbage, whereas current top cards are performing very nicely with next-gen games, such as Crysis.

If there was ever a time to build a PC, it's now.