I didn't think I'd be back on this thread.
A newer video card will
only help with programs that take advantage of the GPU. (Typically 3D games and programs that use languages like CUDA and OpenCL.) I suspect most photo editiors rely heavily on the CPU, so upgrading the videocard may not help. Check to see if your most-used programs take advantage of GPU acceleration before going that route. Also, CUDA is exclusively Nvidia, so if CUDA is critical to you, don't buy AMD. I also doubt there are many (if any) cards being made for G5's these days. It'd have to support the Mac model, OSX version, etc. That's more research I'm not in the mood for.
Info about Open CL and CUDA:
http://en.wikipedia.org/wiki/Open_CLhttp://en.wikipedia.org/wiki/CUDAIf you're still using 512 MB for photo editing, that's likely your problem. If you can check your RAM usage and you're using all or most of it, I'd recommend increasing the RAM. It'd be the most cost effective solution until you are ready to buy a new PC. Search for "533mhz ddr2-533 pc2-4200 240-pin" online (e.g. newegg.com or amazon.com) and look for pairs of 1 or 2GB modules for a cost estimate.
I think just adding 2GB total would be noticable, but 4GB total may not cost that much more. If you do eventually buy, remember to get matching pairs. Lowers the chance of instability. I don't know if the G5 supports dual-memory channels. If it did, having 4 modules would double the bandwidth (2 processors with 2 channels each).
Quad 2.5 GHz
Power Mac G5 (Late 2005) DIMMs 8, DIMM size Up to 2GB, MAX capacity 16 GB, PC2-4200 DDR2 SDRAM 240-pin