As I am actively researching and weighing the cost/benefit ratio of alt currencies I can't help but wonder have I missed the train? Is it too late to make a reasonable profit from mining?

From the information I've gathered thus far, the mining community has had an affect on the rising cost of GPUs, and we're beginning to see hardware manufactures creating products specifically for mining.

So, with all that said I'll ask my questions in a straight forward way: Is GPU mining still a viable option? Can the benefits still out weigh the costs?

I've pieced together a modest rig over the past year. I was never in a hurry to buy any of the parts and got by with what I had until I found a part at a great price. Here is what I currently own.

ASUS Maximus V Gene
i5 3570K (Stock Clock)
Vertex 4 128GB
Seasonic SS-760XP2 760W

In total I've spent around $660. All I lack is a GPU, but with the price hikes IDK if investing in one now would be worth it.