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Plug-n-play works for a ton
Plug-n-play works for a ton of USB devices on Linux.
Wireless? Most modern wireless cards have Linux drivers. Linux machines play well with other non-Linux machines on your network (almost everything you view on the web comes from a Linux machine). BTW: DD-WRT is considered the best app for your router...in some cases making your router as powerful as $10k enterprise routers. DD-WRT runs Linux. I'm reconfiguring my network. My next network will run DD-WRT firmware.
Photoshop alternative: The Gimp
Versions of iTunes do run on Linux. Unsure if the latest version does (because I don't follow iTunes sw releases), but iTunes used to play well with Linux.
PC Games: You can play 3D games on Linux. However, most Windows-only games won't run on Linux unless you run an emulator like WINE. A lot of 3D games are free and available for Linux like these: http://en.wikipedia.org/wiki/Linux_games
Irfanview: There's no Linux version of IrfanView. However, you could run it via an emulator like WINE or a virtual machine. I haven't used the GIMP that much. Perhaps there's a viewer in the GIMP.
WinRAR: Pretty sure WinRAR originated from Unix and then was renamed and made available for Windows. WinRAR does offer Linux builds.
WinAMP: WinAMP offers Linux installs. It'll probably be packaged in Ubuntu (as will WinRAR). Unsure why you would want to us WMP over WinAMP as it's much more powerful.
GPU drivers: Modern cards will most likely be supported unless they were very recently released (in which they could have support already anyway). Linux has been mainstream for so long, I'd be surprised if you have a card that isn't supported. Depends on the card you have. You could always run Ubuntu from the CDROM and see what does and does not work.
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currently playing: Halo 3, Shadowrun, Call of Duty 4 MP beta
currently supporting: Ron Paul - r3/\O¯|ution