If you don't own a V5 I'd go for the GF4 and Voodoo 2
The GF4 will have much better D3D support, (eg like hardware TnL)
Voodoo 2 will have native support in most if not all Glide games (things like Need for Speed need hacking to support later cards)
and of course its a fraction of the price of a single V5

The catch is Image quality will be worse with the V2 pass though setup. Although doubt you'll notice unless you run them side by side.

You don't have to jump right to the top with a V5 though, Unless you want play with high display settings, vast majority of games will be fine with something like a Voodoo 3 3000

I went for voodoo 2 SLI and Geforce 4 ti 4600 with my build and so far things have been well. Late 90s to early 2000s dos/win98se multipurpose retro? build.
There aren't really games that require voodoo 5 and would not run well using the geforce 4.

The one benefit of the Voodoo5 is the possibility to enable AA and AF on older Glide games that only support 640x480 or 800x600.

If you can live beside that, then I'd say a Geforce + Voodoo2 gives more flexibility and it's much cheaper.