As per my understanding with processors with multiple cores the 2nd core will only be used by programs that can actually run multiple threads.
So if I got a top of the line single core Intel chip at like 3.6GHZ it would be more powerful then say a E6400 Core 2 Duo in most PC games as the games are only single thread applications. And the E6400 individual cores only run at 2.13 GHZ.
There are some multiple thread applications coming out soon like supreme commander. But in practice the only consumer use of multiple threads would be Photoshop CS and some multimedia suites.
So ignoring future proofing if I wanted the most bang for my buck a single core Intel chip clocked really high would be the go?
Edit: I read a review where the put a bunch of core 2 chips agaisnt a couple of other chips including a top of the line intel chip. The core 2's pulled out in front.
I guess the modern architecture must make a difference