I just tried moving my current main GPU – a GTX 970 – that I'm having in a MacPro5,1 into one of those MacPro1,1 (2.66 GHz version running Windows 10) and I'm surprised that this twelve year old computer seems to benefit quite a lot from such a powerful GPU (I had tested the Radeon HD 5970 in it before) – the old CPUs seems to chug a long quite nicely, at least when it comes to gaming.
I tried Overwatch at 1920 x 1200 pixels and was able to run close to the highest setting (Epic, but some settings required a game restart to be enabled, which I didn't do) and it never seemed to get under 80 frames per second. This was on the Practice Range so I in a real game with a lot of action the frame rate would probably go down, but still. Also Starcraft 2 seems to run a lot better than with the Radeon HD 5870 and Fortnite was also better than I thought. I also hear Fortnite currently uses only two processor cores, so there's room for improvement there too.
TL;DR: There seems to be a lot to gain when it comes to gaming, getting a more powerful graphics card for the old MacPro1,1 – even if the processors are slow by today's standard.