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I think their all time low was earlier than that, Nvidia almost went bust until saved by the Riva 128, Riva TNT range many years ago.
And Nvidia was only just trying to have a "hey look at this gimmick you MUST HAVE US!" thing (♥♥♥♥♥♥♥♥ Splintercell shadows).
It wouldn't be till after they bought Ageia that things got stupid.
All in all I'd say number one is buying what ever gamed best on your dollar. They both ran fine even with ATI's shady Quake3 "optimizations". I'd still go Nvidia back then though if I had the scratch as they not only had a better lokkin driver program but they also supported transparent Windows UI elements, a but load of other features and I believe even virtual desktops if I recall.