Money is always the object though. If I had unlimited cash, I'd buy one of everything. Seriously though, of course I'd buy the latest greatest 1Ghz+ processor if I was loaded, but I'm not.
Here's the secret to shopping for computer hardware....
Go to
http://www.pricewatch.com for what we refer to as "street prices"...these are down-n-dirty as low as you can go prices, and are a good baseline.
Now you make a little table.
PIII
933eb - $660
850 - $426
800 - $286
750 - $235
700 - $195
650 - $175
600 - $169
550 - $139
500 - $123
Take a look at those prices. See the big price drops? Is it worth it to spend $660 on a 933Mhz PIII when you can get an 800Mhz for $286? No. And I'll tell ya why. For many years now, hardware has been ahead of software. That means that software will perform adequately on older systems, typically up to a year or two. Also, hardware prices drop every day as new components come to market.
So, the trick is to buy somewhere right before the biggest price increases. In this case processors between 700 and 800Mhz seem like the best deal (e.g. don't buy a 650 when a 700 is only 20 bucks more). Now in a year, the PIII 933 will be down to $250 or lower. I guarantee it. So you upgrade. You've now spent a total of around $500 for two processors, which is still cheaper than ONE 933Mhz processor today, AND you've got an extra processor to sell or reuse. So you actually SAVE money by buying slightly older hardware. The whole, "you gotta buy the latest greatest machine or it'll be out of date in a year" argument is both true and bullshit at the same time.
When it comes to digital audio, the faster the processor the better. Cache is relatively unimportant to realtime DSP, so an overclocked Celeron is really the best buy. BUT, if you're not into overclocking, the 700Mhz PIII is your best choice as I'm writing this.
Slackmaster 2000