One way of looking at it is with a chart like
this - cards on the same level are roughly as fast. The Radeon 4870 is on tier 4 - still a very fast card, but not the fastest anymore. The Geforce GT 120 is a rebadged Geforce 9500 GT (DDR2), which you will find on tier 15, if my math is correct - a low end card, now a generation or two behind the cutting edge. The Geforce 7300 is a further 4 tiers down, on tier 19 - also low end, and a further 2 generations behind.
In my opinion, moving from a Geforce 7300 to a 9500 is a too small step to bother with. If you think the 4870 is overkill, save your money.