The Core i5-2500k (~$215) comes very close to the Phenom II X6 1100T, however since it does not have Hyper Threading it does not do as well as the Core i7-2600k for Photoshop batches and video encoding. The extra 2 cores in the X6 1100T helps.
I know that the Core i5-2500k is easily overclockable to 4.5GHz, but I'm not sure how high a Phenom II X6 1100T can be OC'ed. Therefore, the i5-2500k may be better than the X6 1100T if you are willing to OC.
Thanks for the information. I have another question. When i go to Intels website and look up the i5 they have 2nd generation processors in the 2400 and 2500 series but don't clearly call out the i5-2500. Also on the HP and Dell website they call out using an optional 2320 quad core, what is the difference of this one to the 2500? Thanks, David