Well, either way you go (gaming or CPU heavy stuff) the Phenom II 720 seems to be the better choice. Personally I'd go with the 550 if I was just gaming and I'd overclock the piss out of it, but it seems more games are becoming multi-core compliant. So if the 720BE is in your budget I'd go with that. It's really a beautiful chip for the price.
Awesome, thanks.... I really want to go with the triple core because I have never own one. But the GHZ on the dual is much higher and could be O/C'ed even more then the triple. But I wouldn't O/C it very much anyways sense I'll still use the factory air cooling. I figured that the third core would help me out while D/Ling and converting while maybe doing other things while I wait on them to finish. I do play games but I also design web sites and create animations and allot of converting formats... Video, music, animations, ect... I really don't watch movies on the PC but I do convert my movies into DivX and then burn them on DVD's so I can watch them on the TV...
^+1 720BE, or a 940 if you can afford it. Either way you'll be damn happy.
Btw the stock heatsink that comes with the newer AMD CPUs aren't bad I've heard. So you should be able to get a somewhat decent overclock with w/e CPU you choose, just make sure you watch those temps .
Nice pick for a budget, But I really want to stay with a black edition... I'm really feeling for the triple core I picked out... Multitasking like I do, The third core will come in handy.. But I might get that $90 CPU for another build.. I build PC's and sell them on the side as a hobby.. The little extra $ I get I put into my own PC.. Thanks for the reply!