The main difference between P4's and Athlon 64's is what you want to do with the processor. Pentium 4's have a faster clockspeed, resulting in faster DVD encoding/ripping, media creation, etc. Athlon 64's (and XP's) tend to have better onboard L1 and L2 cache. This results in better gaming performance at a slower clockspeed.
If you're really into gaming, AMD is the way to go in most cases. If you're interested in media creation, then a higher clockspeed will benefit GREATLY (P4's).
-Lasereth
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"A Darwinian attacks his theory, seeking to find flaws. An ID believer defends his theory, seeking to conceal flaws." -Roger Ebert
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