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I building a system for video editing in HD which is going to be better Phenom II X4 955 or Intel i7 920
The i7 920 would be quite a bit faster assuming you could use all eight threads.
^ For video editing in HD go with the i7 920
No comparison in video editing, the i7 will dominate. As long as you use multithreaded editing software.
Daships right, because many threads and cores really shine with video editing and rendering apps. So in this case i7 wins.