Recently I wrote about Linux in My Blog - The Idea Is...
Just because I believe that Linux would take you farther and give you more then any Windows to date, doesn't mean that it would be better for you. For example: if you want to play a known, commercial game, you will have to use MSW for that. Linux does have it's share of games but in most cases the quality of graphics and some other aspects of Windows games can't still compare with the other guys.
There is a possibility to run some games in VMware Player or Virtual Box but in most cases it is limited with the ability of virtual graphics card and some other virtual components.
If you are not into games, however and you want to have a fast, reliable and powerful Operating System that will not cost you a dime; will be extremely customizable and will make even your old P3 perform like a teenager on steroids - well then Linux is your choice. There are hundreds of distributions of Linux out there. A few are commercialized though. Most are absolutely free to download, install and use till the end of time. The only thing that you have to pay for and is optional is Support. Even then we are talking about a few Dollars and in most cases well spent if you really want to learn and become an expert with Linux.
Generally, it's very easy to install. It comes bundled with thousands of software (also free). One has a choice of two different desktops - Gnome or KDE and some other community variations. The variety of distros are such that it will satisfy most people. Even the guys who are still trying to employ their old P2 or AMD5, can find a match that will work as fast as other, much younger computers.
I choose Linux Mint and I am very happy with it. I discovered Mint with Mint 3.1 - Celena. Now I have Mint 7 - Gloria and in a few weeks there is going to be a new release, Mint 8 - Helena. You can read about Linux Mint more at www.linuxmint.com