As another PS user, I would agree that even though PS is optimized for SSE/SSE2 (and not 3DNOW), a 1.1 or 1.2GHz T-bird will outperform a 1GHz P3 (for similarly configured systems). On the other hand, if price is no object, why not go for a 1.5GHZ P4 with RDRAM?
In any case, considering the size files you will be working with - outputing large prints, I recommend 512MB of (whichever) RAM, fast HDs (2 so you can use 1 as a scratch disk), and Win2K for its stability and better memory management.