Take a look at the sub $200 CPU roundup on Toms Hardware.
http://www.tomshardw...hmark,3120.html
Those are gaming benchmarks, which implies that a) they are not CPU bound, and b) they don't exploit multiple cores.
What they do however show is that in this particular price range, AMD processors are roughly competetive on speed,
and in many cases offer a greater number of cores for the same price. It's true that Intel is nice if you only need blazing straight line performance, but in particular the 8-core AMD models are really hard to beat for tougher processing workloads (i.e. image/sound/video processing, compiling large programs, or any form of scientific computation).
Where Intel currently dominates is the high-end, starting with the
$220 Core i5-2500K. If there is any way you can swing enough cash to reach for that, I would say go for it.
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Also worth mentioning that NewEgg isn't as cheap as it used to be. We managed to find all our components at 10-15% lower prices at MicroCenter, when we built a $2,000~ gaming PC a couple of weeks ago.