Quick thought, if you go the Athlon XP route, go with a 1600+, since the performance increase is great and the price doesn't change that much ($1 difference on Pricewatch).
Now Fugger, the reason there are so many Athlon problems on this board is because of the large ammount of Athlon owners who post here. I would guess that 80% or more of the people who post here are Athlon owners. And more system-from-scratch builders build Athlon systems due to the price. However, system-from-scratch is more suseptable to problems than any other system due to the nature of picking and choosing parts.
As for unmatched performance and stability, tests continue to show that a P4 does not perform as well as the Athlon XP. Heck, there was one test (Linux Kernel compiling I think) where a Celeron beat out several of the P4 systems. Is a P4 a performance slouch? Not by any means, but it doesn't perform as well as the XPs.
Where will this leave people when the Northwoods come out? No one is quite sure. Some say that it will kill the Athlon, some say that it is better than the P4, but not by a lot. Some even say it could be worse than the P4.
On the PSU issue, it is true that Athlon systems tend to have tighter power requirements, however, it is always a good investment to go with a high end power supply anyway. The P4 may run with an inferior PSU, but that doesn't mean it's good to have one, as it will eventualy shorten the life of your parts. Plus, if you have lots of fans and other pereferals on the PSU, you could have power issues anyway.
As AMD becomes a bigger and bigger player in the CPU market (By market share, not by performance), Problems with their systems will likely become less pronounced and QC improves and technology grows better.
Now, my personal oppinion is to go the AMD route. RDRAM is overpriced and underperformaing, and the P4 doesn't give you as much bang for the buck as the Athlon. However, both systems will perform quite well and be good for a few years, so you need to choose for yourself.
Chesnuts roasting on an open CPU
Bill Gates nipping at your wallet