If I may, here is my $.'2 on my experience with graphics cards as a photo editor. But I'm no expert. And I could be totally wrong.
First, a recap.
Splurge on a good graphics card if your using any modern OS's like Mac OS X (v1'.2) or Windows Vista (Premium and above).
Why? Because these OS's use an advance windowing system that's better known as Aero (Windows) and Quartz (Mac). The last major leap in user interface was from command-line interfaces (DOS and Unix) to windows-based graphical-user interfaces (GUI) such as Apple and Windows.
With GUI architecture, windows were rendered like pieces of paper on a desktop.
But with the 3D-GUI architecture of Aero and Quartz, windows are now rendered like pieces of paper on a rubik's cube. Windows no longer just shuffle in front or behind each other. They now can dodge, dip, duck, dive, and dodge.
What's more, as 3D software programs at heart, both Aero and Quartz were built using software liblaries such as OpenGL or DirectX.
Meaning? They can take advantage of hardware acceleration! Take advantage of hardware accelration where ever you can because you'll notice it.
If you don't have a video card that supports hardware accellaration of OpenGL or DirectX, then that means Aero and Quartz defaults to using software OpenGL/DirectX or refuses to turn-on at all. In other words, it'll be slow.
I suggest getting at least 512KB of graphics memory because the last thing you want is thrashing. That's when the video card runs out of graphics memory and starts swapping with main memory. Just like when main memory runs out and it starts swapping with the hard drive. Not good and reducing thrashing is the biggest performance improvment you can make to any system, hence the reason why adquate RAM is the #1 suggested performance improvement.
And because they're built on OpenGL or DirectX, if you can fit the entire Aero or Quartz system into the graphic memory on your video card, no matter how many windows or thumbnails you have open, they'll appear instantly. The rendering and displaying are off-loaded to and be handled by the video card GPU and its memory. Basically, it'll be a mini-computer inside your computer. Another processing unit! One less thing your CPU has to process.
Of course, it'll still need to wait on each graphics data sent from the CPU, harddrive, or network. That's why you'll notice people saying their LR flies except when loading files. But it's still nice to have transparency on full, have videos playing, and tons of windows open and still fly around instantly.
So splurge on anny OpenGL (at least version 2.' if your using CS4) compliant graphics card -- they'll most likely be DirectX compliant too. Get 512KB of graphics memory or more especially if you have a large monitor and/or plan on using dual monitors as you want to load the entire OS interface into memory. Get PCI-Express x16 if your motherboard supports it -- its now cheap enough to justify its performance boost. Don't buy any card just based on it having SLI. If you really want SLI, your 1'x better off buying a whole computer from a company who specializes in building them. It'll end up being way cheaper as you need specific motherboard and software requirements and it adds up if you don't know what your doing.
Bottom line, get graphics hardware accelleration if you can afford it.
It won't directly accellerate LR. But in Aero and Quartz, LR hands off graphics presentation to the OS such as as scrolling through thumbnails. And in turn, the OS will hand it over to the video card.
And a hardward accellarated interface is very very noticable.
But I'm no expert. Just my personal experience and I could be totaly wrong.