I agree with Impmaster; don't use the money to buy a phone.
Your main choices are PC or laptop.
Fact: You'll get more "bang for your buck" with a desktop based computer. You'll also generally get more life out of it as you can upgrade more down the road.
Obviously, the trade in is its not nearly as portable. Think about how you expect to use a computer.
Reasons for a desktop:
* Used at home most / all of the time
* Play games
* heavily focused on task (games, programming, etc)
* Raw power
Reasons for a Laptop:
* work at coffee houses
* bring computer to class or friend's
* Need the portability over the power
----
My story:
I bought a rather powerful laptop thinking that said laptop was way more power than my current desktop computer. It'd be nice to have the portability and form factor. And it was more powerful. I went from an Athlon x2 desktop to a Core i7 laptop.
The laptop was great... for a while, but I started to feel very limited. The powerful laptop couldn't run on it's battery for a while. It was heavy as all get out and quite expensive. And while it was very powerful it wasn't really as powerful as new desktops.
A year later, I ended up building a more powerful desktop for $400 less than I spent on the laptop. I'm not mobile, I work in my home office and I have an Apple laptop from when I need to do light work away.
If I was really honest with myself prior to the laptop purchase, I could have saved myself $1200 and just bought what I needed rather than trying to get the power and portability. I didn't have the finical cap that you had in this purchase.
Bottom line is really consider what you need and want and for frack's sake, be honest with yourself.