Sandy/Ivy Bridge, Larrabee, DX11... worth waiting?

I'm quite new to the enthusiast world, only started in December-ish 2008. To make a long story short, I was stupid enough to go with an XFX 750a chipset board with Phenom 9500 (lol) as my first build, returned it, got a Phenom 710 (lol again, no BE 720 stupid me) and sold it again. Now , I'm stuck (again) with my dad's old P4 that I can't even flipping OC because I can't find out how to lock PCI frequency, and no one is responding to my thread regarding my P4S800's BIOS options... so, I'm getting a used AGP card upgrade from ebay as a temp. solution for this year (I'm a student using dad's credit card).

So, with all the new plans for USB 3, PCIE 3, DDR3, and DX11, Larrabee, i5's and 32nm Sandy Bridge followed by the 22nm shrink Ivy Bridge, are you guys waiting for the next wave of new technology, or are you guys not hesitating to buy? Please keep in mind I don't have all the money in the world... I'm just a highschool student. I really want to wait out for all the new interfaces to kind of future-proof myself at least until gr12 grad (I'm in gr9). My head is telling me to get an i5 and wait until Ivy Bridge comes out so that Sandy Bridge drops in price and get a Sandy Bridge with a Larrabee... I believe i5's are going to be less expensive since they're inferior to i7's. What do you guys think?

Any suggestions on a different temporary solution for the summer?
P4 socket 478 @3ghz
512 PC3200 DDR1, adding some mo
Radeon 9250, uprading to Geforce 7800/Radeon 9800/x1600 (circle one )
Some random brand 80gb HDD... I don't think my mobo even supports RAID... shucks to be a son of chinese parents. Any know if my mobo is going to RAID somehow?
I've got two 17" monitors, the usual 1280-1084 or whatever res it was, maybe I'll use one, maybe both, maybe a new 1080p, depending on what card I get.When I upgrade this, I'll probably throw my 9250 in my mom's old P3 I know, it sounds sooo pathetic...

One more thing: is btx ever going to get popularized? It looks better than atx imho.... not sure if it practically is better...

Sorry I didn't follow the format in the sticky on this forum, just seemed irrelevant since this would probably be months from now when I actually buy lol.

Yea that's what my friend at school told me.

C2D's and C2Q's have been out a fairly long time, and people are still buying the old q6600's. The C2's were like a wave of future-proof stuff. They came and PCIE and DDR2 rolled out, kind of like a wave of future-proof technologies for the next 4 years. I'm asking, when is the next wave of technology coming, and when will it drop in price? I haven't been an enthusiast that long, since I'm only 14, so I pretty much have the slightist idea of how the earlier C2D's performed.

It looks like the next wave is coming in 2010/2011 depending on if we're buying when just released or during price drop (Sandy Bridge, Larrabee, 32nm/22nm chips and new interfaces) Am I right, or do I have the completely wrong idea?

My dad bought a P4 3.0ghz just before the gigantic roll to C2D and new interfaces DDR2 PCIE, so I don't want to make the same (gigantic) mistake he made.

That's pretty much what I had in my head, just wasn't sure if it's true. Now I'm thinking "so that's why my friend wants to buy a new computer in q4 2010!" Yea, he was a nerd when he was building his computer a year ago, now he stopped researching and keeps arguing with me that there's no such thing as an HD4770 lol. He's like "I'm not gonna keep up with technology, are you going to keep up with it? Good, I'm probably buying a new computer in fall 2010, so tell me everything you know about computers next year or else I'll kick your ass soooooo hard. I swear, I'll kick your ass sooooooooo hard." lol.

Then again, there will be the 22nm Ivy Bridge shrink of the 32nm Sandy Bridge in 2011... Is it true that 1nm is 1 atom wide? Sorry, too lazy to google. If it is 1 atom wide, I don't think I'd be comfortable going under 32nm anyways lol. That same friend of mine told me it was 1 atom per nm, and 1nm would be the limit, so I'm thinking wtf how are they going to do 1nm, 5nm is already unstable if it's really 1 atom wide.

u yella bastaaaaard