Only depends on your overall budget really. But if can afford $200-300 on the CPU alone, AMD's highest chip is the 1100T 6 core and for a few dollars more you can get the newest Intel 2500K which is much faster at everything except very heavy video encoding. The 2 extra cores on the AMD will shave 3-5 seconds off your video encode time.
Now, this is where it comes down to brass tacks... AMD boards usually offer more bang for the buck. You can get an awesome AMD motherboard that supports everything you can image for $60-100, and the similarly matched Intel boards will usually range $90-200.
But if you can only budget say $400-700 for a new build, AMD will be your winner for price vs performance. If you have $800-1500 for your budget, then the Intel offers are much more worth your while.
Clock for clock Intel is faster than AMD at the moment. Dollars to cents, AMD cannot be beat in the budget end, only AMD's high end is not worth the $. But there is a new AMD chip called Bulldozer coming out soon which might change the performance in the high end... but don't hold your breathe. Wait until it released and well tested before you can say it will compete with the high end Intel.