I have been a firm believer in buying cheap o/cable CPUs, overclocking the shit out of them for about 3 months, and then buying the next "new thing". The 1700+ TBreds are the best $50 CPU in recent memory; maybe ever. The Asus NForce2 is also hands down the best socketA mobo that has ever been released.
The Albatron P4 mobo and whatever speed C1 stepping P4 is also a good choice though, I gotta admit