i just upgraded myself to the following:
- Asus P4C800-E Deluxe Rev. 2.0
- P4 2.4C @3.3Ghz 1.6Vcore
- 2x 512MB PC4000 A-DATA 2.85Vdimm
i’m quite satisfied running that rig at 275Mhz FSB in CPU 1:1 DRAM ratio supplying me with a whooping 6.2GB/s memory throughput.
of course you don’t need that much in realworld applications, but however, you never can’t have enough 
so at the very moment there isn’t much benefit from HT (hyperthreading) when using renoise, nevertheless time will come and programmers might integrate code into our belove music apps feat. HT optimized code.
nuendo2 for example, already benefits from HT.
however the fastest CPU money can currently buy is either the P4 3.4EE or the athlon fx (required registered DDR in dual channel, which is not really cheap). the athlon64 problably gives the best performance at stock clocks as for example the athlon64 3200+ is quite on par with my rig, performance wise. the only weakness current AMD CPUs is the video encoding department, where intel really smokes any AMD counterpart at the same pricetag.
so afterall, if you’re not a friend of experimenting and overclocking, i’d suggest to get athlon64 3200+ (running at 2.0Ghz, 1024kb L2 cache) paired with an Asus K8V motherboard and either one or two sticks of 512MB PC3200 supporting good timings (corsair or mushkin come to mind).
the athlon64’s memory controller doesn’t support dual channel so you’d be fine with a single stick of ram.
however, if you like tweaking, experimenting and “overclocking” your stuff to the max, like i do, then a P4C (2.8C has best price/performance currently, DON’T go for a prescott P4E, they suk
) paired with a canterwood (i875p) board should be fine and won’t perform any worse (in most cases) as the athlon64 3200+.
but do yourself a favour and don’t get anything else or if you can wait, then do so, since the BTX formfactor and PCI Express are right around the corner and the prescott will take a jump onto another socket soon too, where he most probably will start to breath finally.
these things are supposed to happen in the near future (anytime this year)