hi mate
there are several factors that make up a good graphics card and these include :
1) core clock .... this is the speed at which the gpu or graphics processing unit operates at... the higher the better... in todays standards you should settle for nothing below 700mhz .. however aim for 800mhz and above
2) memory clock.... this is the speed at which the memory operates at.... this is broken down into two values... theres the standard memory clock which is the actual speed the memory runs at.. and then theres the effective memory clock which is the speed of the memory once the memory type ( eg gddr3,gddr5 ) is taken into consideration.... for example a 1000mhz standard clock with gddr3 memory will be 2000mhz effective... however gddr5 memory at this standard speed will equate to a 4000mhz effective clock .....
3) memory interface .... this is calculated in bit width.... a good card will use a 256bit memory interface or higher.. however many of the latest cards can use lower memory interfaces such a 128bit since the superior gddr5 memory allows for superior memory clocks which makes up for the narrow bit width... however for optimal performance in games allways aim for a 256bit memory interface
4) stream processors/cuda cores.... basically these are small processors that can do all types of graphics calculations... for example a stream processors can do pixel,geometry and vertex calculations were before stream processors were introduced these were split up into seperate parts... for example a card like the old radeon x1950pro was a impressive card in its day and has 36 pixel pipelines and 16 vertex pipelines... however by seperating these it slowed down the speed at which these calculations were made... stream processors on the other hand can do any of these calculations as and when.. which is why modern cards are superior in every way ......
5) shader model/direct x .... these are found in all cards and will allways be the same... in that i mean a direct x 11 card will only support shader model 5.0 .... and a direct x 9 card will allways support shader model 3.0 .......each direct x api ( application programming interface ) .. will support new technologies ... for example direct x 11 supports tesselation which makes games much more life like
6) memory buffer... this is basically the amount of memory the card has... for example 1gb or 2gb .... however dont think a card with a 2gb memory buffer will be a better card than a card with just 1gb or even 512mb ..... ok the amount of memory a card has is important,especially if your running programs and games at higher resolutions ( 1920x1080 and higher ) .... but 1gb is generally seen as enough to cope with most of todays apps and games......
another technology which is used much less these days is "hypermemory" ... this is were a card has a dedicated amount of ram but can use a allocated amount of additional memory from the main system memory (ram) .... nvidia have a similar technology called "turbocache " and allthough you should try to buy a card with dedicated memory for less demanding apps these technologys can actually work quite well
there are many other features on a graphics card such as the pci-express x16 version... this is how fast data can pass through the pci-express x16 lanes.... for example most recent cards support pci-express x16 v2.1 ... however the latest radeon HD7970,s use v3.1
these standards are backwards compatible so a v2.1 card will run on a first generation (v1.0) pci-express x16 based motherboard and visa versa....
finally another feature which is more on the physical side of the card is the cooling.. many people forget about this when buying a new graphics card however a card may be fast and powerful but with a sub standard cooler its going to run hot and in some cases cause crashes and errors
look for a card that exhuasts warm air directly out of the case.... some cooler will draw the air both out of the case and also into the case... this can increase the interior temperture and afftect the cpu temperture......
anyway i hope this helps... any questions let me know
good luck mate !