Intel is going to be about 6 months ahead of AMD on VT as AMD won't have it until Socket M2 comes out late April. It generally isn't significant though as its use is mainly in the corporate world for streamlining purposes.
In any case, all Preslers will support VT not just the EE. The entire Presler family will launch on December 27 likely along with the Cedar Mills. If you want the latest and greatest from Intel then you should definitely wait for the 955EE. With the 3.46GHz Dempsey performing similar or better than the AMD 280 its likely the 955EE will be extremely competitive with the X2 4800+. The doubled cache and especially the 1066MHz FSB are a real benefit since the 840EE was extremely bandwidth starved. The 955EE looks to clock nicely too.
http://www.theinquirer.net/?article=28412
They ran it at 4.26GHz although they didn't boot into windows yet. However, a clock of 3.73GHz should be easily reached with a decent fan and is a good value considering a single 3.73GHz EE costs $999 now which is the same price as the dual core. Sadly, the option of a 1333MHz FSB won't likely be available on a retail i975X as the one The Inquirer has is a validation board.
Still the memory optimizations of the i975X make it worthwhile and it supports Crossfire too. ATI graphics is a good choice if you do encoding as the new x1xxx series supports hardware encoding acceleration with the new 5.13 driver to be released December 22.
If you are getting the i975X and the 955EE make sure you get some Corsair TWIN2X1024-8000UL. The i975X supports a memory speed of 889MHz and that Corsair can easily run at that speed with latencies of 4-4-4-12 or lower. That way you'll squeeze as much performance as possible out of it. Sadly the Corsair TWIN2X1024-8000UL is just short of 1066MHz. You could get 1044MHz and maybe a bit more with better cooling, but it isn't worth the effort.