I tend to have a bit of the opposite feeling. The motherboard is a way more important consideration for a long life system than CPU speed. If someone keeps a system for years and doesn't plan on upgrading to a new mobo/system anytime soon. I think waiting for for Socket 939 makes alot of sense. Then over the years upgrades can be better made to extend the life of your system. You won't be as limited in the upgrades you can make, and won't be at risk of reaching a practical upgrade deadend, well before someone who waited a couple months. The A64 and FX chips will both work on those socket 939 motherboards. Meaning you can start with the best value A64 and in a year or two pop on a much faster chip when prices come down, or whenever you need more performance. Buying socket 754 mobo now means forget an FX chip ever, and expect your current platform to become either the value line, or dissappear altogether. Sure A64 3700+ isn't a bad sounding ceiling, but waiting a few months for Socket 939, and you almost remove the currently anticipated ceiling altogether. Sure, it won't last forever, never does. But waiting for Socket 939 may greatly increase the time you can keep that system. Right now he is stuck as what can you do to further upgrade a PIII 1.0GHZ? And even if he had a 733mhz, how much greater would an upgrade be now. But imagine if somehow a P4 3.2GHZ and DDR could be added. Yes, it's a stretch, just mentioning it to make you think. Socket 939 + cheapest A64 in June, and FX55 or A64 4000+ someday when needed. Plus as you mentioned a top PCI express video card. Nice future. Only ? is what will the cheapest Socket 939 chip cost?
If you plan On a total new system in a year or two, then the currrent A64 mobos are more attractive. But for a gamer who says money doesn't matter, yet keeps a system for years, Socket 939 looks great.
ABIT IS7, P4 2.6C, 512MB Corsair TwinX PC3200LL, Radeon 9800 Pro, Santa Cruz, TruePower 430watt