I have an OLDER computer (HP Athlon XP 2400GHz, 768Ram, on board video card NVIDIA GeForce4 MX with 64MB allocated to video memory) I am running windows xp and I do a lot of Photoshopping work. No video work or gaming. Would a Video graphics card be a wise upgrade or would I LIKELY see very little difference? I am still using a CRT (HP p1130 21inch monitor) Upgrading the CPU would yield better RESULTS in Photoshop.

However, in order to do that you would have to buy a whole new PC.
So, for now, you could just buy a cheap graphics card, and see how even that will be far better than what you have right now.

I'll need to know what motherboard you have, in order to reccomend a suitable graphics card.Mainly, do you have an AGP slot?I am guessing yes he probably does, if so you can upgrade to a Nvidia GEFORCE 7300 GT (Prices are pretty cheap) or if your a ATI person then a ATI Radeon X1300. Also you should consider upgrading your CPU, if it is a socket 939 then a AMD Athlon 64 X2 4000+ (Or anything higher) would be fine for your computer.