Ryan: If you are more concerned about game framerate, the GeForce 3 would probably be a better buy for you than the 7500. Tom's Hardware shows a big performance gap between the two. An 8500 would be more in line with what the GeForce 3's can produce, unless you're looking at a value-priced GeForce.
As far as video quality goes... I've HEARD that the ATI chips are a bit better at DVD playback, but that's hearsay, so I'm not completely sure it's true.
If you could narrow your search down to 2 specific chips (i.e. Radeon 7500 versus a GeForce 4 MX 460), it would help a bit more regarding the performance of both.