Which combination would you select and why?

Need input on two choices to begin building a new computer. I'd like comments on which of these two set ups makes the most sense for current performance and future upgradibility. Computer will be used for moderate/heavy gaming, video/photographs, graphics and word processing.

1) Choice One:

Pentium 4, 570 processor with HT Technology (3.80GHz, 1MB L2 cache and an 800 FSB.

2) Choice Two:

Pentium 4 Extreme Edition with HT Technology (3.46 GHz, 2 MB of L3 cache and a 1066 FSB.

All other components being equal, what are your thoughts on these two choices for now and for later. Please be specific, so that I can learn.

Thank you,

Texasbobby

 

1. requires that new case and power supply combo. but would be way faster then any p4EE, they are dogs, 1mb of cache and the fsb would not make up for the core cpu speed.
read your own reviews at anandtech or tomshardware