I figured, considering all the questions we have been having recently, I'd give a nice overview of the complete computer market:
1. Processors
Determining who has the lead here really depends on your criteria. For gaming, the current leader is most likely the Athlon 64 3400+, considering it's just as fast as teh FX-51 and the Pentium 4 3.2EE, but about half the cost. For things like video and audio compression, the 3.2EE has the lead due to the Netburst architecture. For budget and overclocking purposes, however, the winner is definitely the Athlon XP 2500+.
For next-generation chips, it appears that AMD has the advantage. With both the FX and standard versions of the Athlon 64 switching to Socket 939, they'll get better memory performance thanks to the dual-channel setup which will not require registered memory. Intel, meanwhile, seems to have problems getting the Prescott-based chips out the door, and early benchmarks suggest that their performance is actually lower than a Northwood-based chip at the same speed.
2. Motherboards
On the Intel front, your best bet is an Intel chipset, probably Canterwood, on a board from a company such as Asus, Abit, or MSI. For Athlon XPs, your best bet is a KT600-based board if you're on a budget, or a nForce 2 Ultra 400 if you want to spend a bit more. If you're going for an Athlon 64, it's really up to you whether to get a K8T800 or a nForce 3 150.
3. Graphics cards
At the current moment, ATI has the advantage in both the high-end and mainstream markets, thanks to a flaw in nVidia's implementation of PS2.0 and the lower price of the ATI-based cards.
This may change in a few months, however, with both nVidia and ATI coming out with their next-generation chips, the NV40 and the R400, both of which will be compatible with PEG x16 (PCI Express Graphics), the replacement for the aging AGP standard.