Thoughts on Intel board

IMHO, the phenom II X3 720 (priced similarly to the E7500) would be a better option as you've got an extra core for futureproofing. Intel has the edge on with i7 CPUs, but core 2 quads and phenom IIs perform similarly.
Although the Core 2 Duo will outperform the X3 720 on 2 threaded apps, the 720 has an unlocked multiplier and overclocks well (3.7 GHz stable), and outperforms it on 3 or 4 threaded apps.
I don't know the mobo, so I let others comment.

yep it is true, although amd has been making up some ground with the new phenom II cpu's. as for the build you described, it could be good, but what do you plan on doing with it? that makes all the difference.

Anyone notice in the Crysis benchmark the E8400 putting the smackdown on the X3 and X4's?

They're right around the same price. I don't know why everyone always compares the 720{147} to the E7500{139} when the E8400 is only 164. For the money you'd be a fool to go with the 720 over the 8400.