I would say wait till you can afford a card that lasts you 4+ years (personally I don't tend to upgrade, but rebuild from scratch every 5 years or so) but if your current card is failing you might be better off shopping around for a decent stop-gap bargain
I've found this chart very helpful in the past
http://www.tomshardware.com/reviews/gpu-hierarchy,4388.html
So long as the card you're looking at getting is at least 3 tiers higher than the one you currently have you should see some decent improvement. So use that to narrow your search then go looking for specific reviews for the benchmark scores