Your going to get a few different categories of replys to any question in a forum such as this one. Some of them will be quality replys and some of them will not. You will always have some that are biased for company A and some that are biased towards company B. You see, everyone has there on idea of what the perfect system is. Alot of the time the perfect system for them is not the perfect one for you.
Now this is the way that I see it, and this is coming from someone that has been using all Intel since 1998. My current systems have a P4 3.0E socket 478, P4 3.4 Socket775, P3 550, P2 266, P2 333. All the testing and benchmarking has put AMD as the faster or better performing system for now. Keep in mind that the speed of the CPU doesnt mean anything until you factor in the other components. My P2 333 system will turn out much higher benchmarks than my P3 550 system. The P2 has more ram and a better video card as well as a much better PSU.
AMD is also cheaper to build in most cases. If your willing to shop around for a while, this isnt always true. My P4 3.4 775 system was built with less money than I could have built a comparable AMD system for. It took me over 2 months of price watching and buying parts here and there to accomplish this however. At some point I will probably build an AMD system, but I doubt that I will ever be without an Intel at the same time. Both are great systems, and you should be happy with either choice. While im thinking about it, let me say something about all the things that you may have heard when it comes to how hot some intel systems get. They do get hot, sometimes very hot. The thing that I dont understand is why it gets hyped so bad when there are solutions to making them run as cool as anything else. I Overclocked my 3.0e to 3.8 the other day. I didnt leave it that high, but I did this on just air cooling and used the stock heatsink and fan. The temps under a mild load were in the low 60's, but that is at an extreme OC on air. The other thing that bothers me is that so many people go on and on about the heat issue and how it will decrease the life of the CPU. Heat does decrease the life of a CPU, however most people that are into overclocking dont keep the same CPU long enough to kill one from heat anyhow. Now you can kill one from being stupid, but im talking about the life span of a CPU that has been properly OCed and cooled. I have no idea what the lifespan of the Prescott is, but I have a ton of the old P2 and P3's that have been going almost nonstop since as early as 1998. This leads me to beleive that a properly OCed Intlel will last for at least 3 years, and thats longer than I will probably have it anyhow.
I hope that this doesnt offend anyone. It certainly was not aimed at anyone here, and was in no way trying to take away from AMD and their accomplishments. This was only an attempt to help clear some of this up so that this person wouldnt be so confused going into the purchasing of a system. I am not pushing one or the other, I think that both are extremely good choices as long as you know and understand the facts of each individual system.