I am looking at building a desktop and I am going to be doing a fair amount of HD video editing also. I probably don't need something crazy fast/expensive like an i7. I am on a little of a budget but I am willing to pay a little more if it means i will get great performance. I had been told that an AMD Phenom X2 555 was a good choice but they are out of stock at newegg and I was wondering either intel or AMD and which would be a good choice
The phenom II x6 are great for video editing for a reasonable price but if you are looking at the x2s then maybe your budget is too small.
I would suggest an Athlon x3 or x4 if that is within your budget, the more cores the better, the extra cache in the phenom is kinda a waste for an x2. You may still be able to unlock your extra cores if you buy a x2 or x3 so you can still take your chances.
For video editing an i5 would be a great choice if you can't do an i7. AMD is just not a good choice right now for intensive applications like video editing. My video editing machine is an i7-2600K at 4.4 GHz, but I really think that the i5-2500K would do about as well. Lots of ram and a scratch ssd are nice but the ssd is not essential -- lots of storage helps too.