The Opty 165 will most likely reach 2.8 - 3GHz, the 4200+ perhaps slightly lower (2.6GHzish is my guess)as the EE models don't tend to overclock as well as the normal variety for some reason.
Neither would hold a candle to an E6600 which can normally overclock to 3.2GHz or more. C2D is already 20% faster than K8 clock for clock. A fully overclocked Opty 165 would do well to match a stock E6600 (2.4GHz). An E6600 at 3.2GHz would be equivalent to a 3.85GHz X2/Opteron.
I'm not sure why you're comparing the AMD chips to the E6600 because there are much cheaper C2D chips available in the E6300/E6400 which are similar in price to the Opty 165/X2 4200+ but also share similar overclocking headroom to the E6600. You should give the lower end C2D chips serious consideration if overclockability and budget are important to you.
The E4300 to be released later this month should be the ultimate budget overclockers chip. Do a forum search on it, a lot has been said on this chip already.