Well, I would suggest some things, but you need to establish a time frame. Remember, if you're always waiting for the "next thing," be it Northwood or Athlon 4 desktop, the Crush chipset or the Brookdale chipset, you'll never get anything.
So, what does this mean? Well, if you want a new system within the next month, I truly suggest a T-Bird, any speed. The P4 is too expensive right now, and the current P4 is not even the true one, and not indicative of it's true, possible performance. The Northwood will show differently, that is true, but it won't be out till at least the fall, if not later (depending if the rumors of lithography equipment not showing up on time is actually true and that much of an impact). The Athlon 4 desktop will be out around mid to late July, and start at speeds around 1.5GHz, and it offers around a 6-15% increase over the T-Bird. But, price is something that I am unsure of, although, given AMD's history, you can expect it to be priced lower that the P4.
So, the question is, do you want it now, or can you wait for around six to eight months for the new generations to come out and establish themselves in the real world (including the chipsets, always a big concern, especially with AMD). Now, since you say Photoshop is a use of yours, the P4 <i> may </i> offer some increased performance, if the benchmarks are to be believed. But, since I don't use Photoshop or know how a system affects the program, it is only speculation on my part based off of other peoples' observations. Also, video editing and encoding are help greating by the P4's increased memory bandwidth, as are other memory bandwidth intensive programs... and Quake3. I still haven't figured that out yet. Maybe someone can fill you in on that one.
The SSE2 instruction set has been shown to increase P4 performance, but as of right now, I think that many companies are hesitant to spend the time and effort until Intel has the Northwood out. In fact, it is my opinion that most developers out there were looking towards the Northwood as the introduction of the P4, not this current mostrosity. Therefore, they were saving their software development till that point, as opposed to the hurried release of the P4. This was Intel attempting to grab at the market share falling through their hands, and I don't think that Intel got the word out the devlopers that the P4 was coming.
It will be another 6 months before the SSE2 optimizations reach the software, which is a year lag time. I don't know how long SSE or MMX took, but I would think that by now, Intel would have learned to get it out to the developers so that the lag time was around six months, as opposed to a year or more.
But anyways, besides my rant against Intel, I like the promise of the Northwood. But if you can't wait four to six months, get a Athlon, with an ALi chipset. Stay away from the VIA chipsets right now, which also means that you have to stay away from the AMD761 'boards, since they are hybrids of the AMD761 northbridge and VIA686B southbridge. So, yeah. Those're my suggestions, and I won't be offended if you take it with a grain of salt. There are some good people here to give you advice, but there are also some lamers on here who will just sprout a company's marketing line. Just choose what fits your needs, and you'll be in heaven. I mean, both those top-of-the-line CPUs will kick the *#&! out of any other processor on the market.
-SammyBoy
Without Evil, there can be no Good. Therefore, without an Intel, there can be no AMD.