I do occasional video capture and editing, graphics, accounting, and just a wee bit of gaming on my Prescott 3.4@3.7. I just replaced the old AGP card with a LeadTek 7600GT AGP -- some would say, a waste of money when I should be building my Core 2 Duo system (definitely in the works, though). I'm pretty happy with the TrackMania Nations formula racing simulation SE version that came with the 7600GT.
I have a friend who can't help but "jump too fast." First, to supersede his Northwood 3.2C last December, he attempted to build an Athlon 64 x2 system, but it "went south" and he EBayed the components. Couldn't wait again, and got a P5WD2-E Deluxe with a PResler dual-core, but because he couldn't wait, he got the Presler rated at 135W TDP versus the 95W TDP series. Now, he's EBayed those components, trying to wait for the Kentsfield release.
I'm in no hurry at the moment, because what I want to build, whether E6700 or something more "bleeding-edge," -- is still going to cost an arm and a leg for the disk storage and some other components.
After that, then what?