If you are willing to invest in a CPU, that you know will carry a heavy performance penalty and will be easily outperformed by anything Intel, go ahead.
For video editing, AMD is way behind Intel, because of the lacking SSE extensions, that are heavily used during encoding. So the short advise is: No.
Amd does not do as good as Intel for video editing
My CS5/AVCHD 1st Impressions http://forums.adobe.com/thread/652694?tstart=0 includes a link to what I built, which is pretty much the minimum for CS5 and HD video
The nVidia GTX 470 is the current price/performance leader... right now with the hack, supposed to have official support with the next update
For a list of supported nVidia CUDA cards go to the FAQ
nVidia Hack http://forums.adobe.com/thread/629557?tstart=0
Read Harm on drive setup http://forums.adobe.com/thread/662972?tstart=0
Ok, so I guess my question now would be:
Would an i7-930 and the GT 240 1GB perform well enough? (The GT 240 works with the MPE hack according to this article.)
Just so that I could have an affordable solution for now and wait to upgrade the graphics in the future .