Oh crap, here we go.
Man, DO NOT BUY THE K6. You're friends don't know what they're talking about. It's absolutely not worth it. The performance of a Celeron over a K6-2 for recording is *extremely* noticable. Things like DX effects rely heavily on the FPU for which the K6 is EXTREMELY lacking. In fact just about everything runs better on the Celeron. I "upgraded" from a K6-2 400Mhz to a Celeron 400Mhz and I couldn't BELIEVE the difference. My Q2 bechmarks went from 40 to 70! The number of tracks and effects I could record nearly doubled!
Plus, the only thing you can upgrade the K6-2 to is a K6-3...and they're 99% the same beast.
Now with a SLOT 1 Celeron you can upgrade to the PII or PIII...and those are noticable and worthwhile upgrades (when the $$$ is right). And hell, what's the celeron down to now anyway? Like 40 bucks? Just get it. No one's ever going to say, "oh man, my computer rocks except for this stupid Intel processor." You might also look into the PII 350 or better...they should be real cheap by now (~100 bucks).
Ok, there will be one guy who's going to repsond with "I'm using a K6-2 right now and love it!" There's always one. Do some searching on the net for yourself...search for "K6 vs Celeron" and look up some benchmarks. Won't you be suprised to see the Celeron beating the tits out of the fastest K6-3 processors in everything but business applications.
Now the Athalon is a differnet story...but of course you're on a budget.
Slackmaster 2000