Well, just a hint of part of the problem can really make you aware of how large a project this would be. For instance, one of the most important aspects of video processing for a flight simulator is the ability to process texture filtering (anisotropic filtering). Another might be processing transparency, especially considering flight down low in the trees. As far as the texture filtering goes the reason in is important is because of the horizon shimmering that so many of us don't like. The reason it is a problem is because the rectangular, or square texture is either clamped or wrapped across a non-rectangular, or non-square area of the terrain. The graphics card can do so much processing of any texture before it must move on to the next frame even if you have the AF set to high. If the card has enough time to complete processing of every frame then the results will be more consistent and no shimmering will appear. Now if you look for AF capabilities in a GPU you have to look at Texel Fill Rates. If you compare the 8800 GT to the GTX 480 you will see that there was not a lot of change between the TFRs (33.6MTs vs 44.2Mts). In the case of the GTX 680 it is nearly three times faster than the GTX 480. Even the Radeon HD 7970 cannot hit the pace the 680 does. Close though.
Now, because the 480 is in the same region as the 8800 for AF you might think that you must pull the object distance down, or refrain from using the Hires Texture Pack. Not so. What it means is you should not increase AF beyond 2x, or possible 4x with the 480, and settings like Negative LOD Bias become very important to the 8800. Normally, if you enable AF in the Control Panel then the Neg. LOD Bias is automatically clamped. Not everyone should change these settings, because it will only cause them headaches and because the very people that should not are also loading their drivers incorrectly (check your NVidia drivers folder and if you have more than a single ###.## folder then you are not installing corrrectly). Improperly loading drivers and a few other things can cause a driver set to stray outside of normal behavior and cause inconsistency (at best). Which is why if you are forced to use older equipment in order to play something like AH then you should probably take the time to learn how to set things up.
Hate to leave anyone hanging but that's just the tip of the iceberg.