Turion would perform exactly the same as any other socket 754 CPU of the same MHz and cache. Power consumption may be a bit less from lower voltage, MHz being equal.
You need to install DDR in matched pairs if you go with socket 939. Socket 754 is best off with a single stick. Other configurations work, but those are ideal.
It certainly is fair to compare Semprons and Athlon 64... at the same price points. The socket 939 3200+ is $160. The Sempron 3400+ is $123. If you can't shell out the extra $37 (plus extra $$$ for motherboard) then by all means the choice is clear - get the Sempron. At this time there is absolutely no cheaper socket 939 CPU at Newegg (just a random choice for an example). If you are looking at the A64 3000+ Venice for socket 754 and the Sempron 3400+, then the A64 is the better deal for only $3 more at $126 (same socket and MHz, twice cache). Let's compare A64 3000+ Venice for socket 754 versus Sempron 2600+. If you absolutely can't afford the $61 more for the A64, get the Sempron.
Translation (if that is too obtuse): Chose your price point. At that price point, get the faster true MHz CPU. If two CPUs are same MHz, get the one with more cache and/or dual channel. Something like that...