It depends on the application. There are some that will see a huge, several CPU speed grade class boost. Games like Quake III and Unreal/UT which are very memory-intensive may run up to 20% faster in lower resolutions on DDR platform compared to SDR, assuming all other things (CPU, video card, quality of AGP implementation etc) are equal. Some high-end applications could benefit even more. This is all speculation, of course, and we'll have to wait for benches on final products before passing judgement on DDR SDRAM. But so far it looks promising - slowest implementation, PC1600 (100mhz DDR SDRAM) has double the bandwidth of SDRAM without any latency penalties.
As always, whether to wait or not really depends on your needs. If you need a new system, go for the 1.2Ghz Athlon and that excellent MSI K7Tpro2 now. If you can wait (it'll be at least a month until retail AMD-760 mobos will appear in volume), by all means do so because in IT business something better is always around the corner.