I was running an overclocked HD5850 1GB on a half speed(8X) PCI-E 1.0 times slot for years,and by that time PCI-E 2.0 16X was common.
For single card setups you should be fine IMHO.
Plus,you can always upgrade later on if the CPU or platform becomes a limitation.
However,also like I said ex-server six core Core i7s are cheap now,so there is still much life in socket 1366 IMHO.