At the moment, i currently have a few parts laying around that i can use for my own pc build. I've wanted to have a fairly recent system for quite a while now. Now, my main question to you guys is which processor i should flow. Should i go with AMD's phenom II x4 955 for the better bang for buck, or should i go with Intel's "better-performance at a high cost" i7 920? I am planning to probably overclock if i purchase a Xigmatek Dark Knight cpu cooler, and i would still have to purchase a motherboard and some ram. One downside to picking the i7 920 is that i would have to purchase it for $280 opposed to Microcenter's $200, because i don't have one anywhere near my house. The Phenom is having some really sweet combo deals at newegg right now.

I took these questions from one of my favorite forums for finding great deals and hot technology [H]ard|Forum. Maybe they can be of some use to whoever is kind enough to help me decide which processor i should pick.

1) What will you be doing with this PC? Gaming? Photoshop? Web browsing? etc
I will be gaming, which includes everything from the latest games, FPS'es, and MMORPG's/Video editing with Adobe Premiere and Photoshop work/Web browsing (including youtube/gametrailers)/Watching videos
2) What's your budget? Are tax and shipping included?
There's no real "budget", but i will only purchase the components that offer me better value. This would, of course, include upgradability and futureproofing.
3) Where do you live?
SF Bay Area, California.
4) What exact parts do you need for that budget? CPU, RAM, case, etc. Please be very specific.
CPU, Heatsink, RAM, Motherboard..(Already decided on DVD burner and HDD)
5) If reusing any parts, what parts will you be reusing? Please be especially specific about the power supply. List make and model.
Cooler Master Centurion 5 Mid-tower Case, EVGA 9800gtx+, and PC Power and Cooling 750w Silencer Quad
6) Will you be overclocking?
Yes(If heatsink is included with purchase)
7) What size monitor do you have and/or plan to have?
1280x1024 19" LCD. Lol.
8) When do you plan on building/buying the PC?
Whenever possible in the future.
9) What features do you need in a motherboard? RAID? Firewire? Crossfire or SLI support? etc.
RAID.....
10) Do you already have a legit and reusable/transferable OS key/license?
Yes.


I'll be upgrading from a Pentium 4, so i'd probably be happy with any performance increase. I'm also open to any suggestion as to other processors i should purchase, but my current attention is only glued to one of these two for now. If you never really bothered reading my questions, ill bold out the parts that i need your help recommending to me. Mainly the CPU, Motherboard, and RAM that have the greatest value.

Current build ive been looking at:
$215 - AMD Phenom II X4 955 Black Edition Deneb 3.2GHz Socket AM3 125W Quad-Core Processor
AND $200 - ASUS Crosshair III Formula AM3 AMD 790FX ATX AMD Motherboard for $345
$90 - CORSAIR XMS3 4GB (2 x 2G 240-Pin DDR3 SDRAM DDR3 1333 Desktop Memory

For a total of $435... What would you think?
I'll probably be asking other forums for advice as well.