Opinion based on two months of research into your same situation, but without having completed my first build yet:
I would say, look to build a system around the LGA 1155 socket/chipset motherboards. That supports the current line of Intel's processors (that outperform AMD almost uniformly as CPUs), and solid rumors say the next generation of processors will also use the 1155 socket.
From budget to powerhouse, the processors available for that socket are Celeron, Pentium, iCore i3, i5, and i7. ALL the built-in memory controllers support either 1033 or 1333hz RAM speeds, so you can save some money on RAM there or look into motherboards that have their own memory controllers
Since you want to do video editing, Celeron is out, and you'll want a dedicated graphics card.
The Pentiums are actually a surprising value; they only have 2 cores (like having dual-CPUs in years past) and weak integrated graphics (but you'll want to add dedicated graphics anyway), but most programs don't utilize 4 cores yet by themselves so this option could be adequate if you are used to just running one powerful program at a time.
i3 processors bring you over $100 ($120 to $145), but they offer two virtual cores in addition to their 2 physical ones, larger L3 cache, and between 0.2 Ghz – 0.5 Ghz processor speed over the Pentium. I personally think this is the sweet spot with current programs, because above this Intel mostly adds more physical cores and "turbo-boost" to overclock the processor speed over their base Ghz.
i5 processors have 4 physical cores and turbo-boost to automatically overclock the processor speeds when needed, but no hyper threading to create virtual processor cores. They have the same L3 cache and mostly the same clock speeds as the i3 processors, but there is a "k" model for enthusiasts who want to manually overclock the processor (seems ppl have stability at 4.6 Ghz, but this does generate heat and make the processors more likely to have errors and wear out faster). The cheapest is $185, but every other processor costs over $200.
i7 processors still have 4 physical cores, but add hyper-threading to add 8 virtual cores. They also can have higher base clock speeds, turbo-boost, and many are unlocked for manual overclocking. Most programs today cannot utilize more than 2 cores so many report that the system feels basically as fast as an i3, but more programs in the future will be able to spread the processor load between more processors. This processor is for people who do production video, run multiple power programs at once (who plays two games at once? How do you even do that?), and who are just enthusiastic about computers (and benchmarks). $300–$400.
Now, each processor DOES suit the needs of certain customers. You make your choice. Personally, I do graphic design for a living (well, I HOPE to, as I'm job hunting), and I think the i3 2120 that is currently on sale at newegg and other places will keep me set for 3-4 years, running multiple Adobe CS5 programs at once and occasionally playing new games. I think, in most cases, the i3 is plenty of muscle to handle my needs so long as I have a strong discrete graphics card. I've even been tempted to save money and just get a Pentium with a high clock speed, but I think the two extra virtual processor cores will make me future proof as more programs actually add the ability to get a boost from 4 cores. I already have an operating system and harddrives (thank goodness, cuz those are high price pieces of the puzzle ATM), so I think I've selected components for a pretty powerful system @ about $600.