AMD's chipset is three-part, the 8151 AGP tunnel, the 8131 dual PCI-X tunnel (now 8132 dual PCI-X2), and the 8111 south bridge. They're all interconnecting through HyperTransport.
It's a server grade chipset, found on almost all dual or quad Opteron chipsets. So yes, the chipset is good. However, it might focus on things you don't think are important, and lack some of the bells and whistles people "need" on the desktop.