Intel Core i7

It's not just a processor you'll need, but a hefty amount of RAM and a good motherboard.

So I'd go with at least 4GB of ram, and of course the motherboard should have slots to hold at least 8GB (you'd have to do 4x2GB sticks.) Keep in mind you need a 64-bit version to take advantage of that amount of ram.

I'm not big on buying items that are literally just released without letting it sit in the market for awhile to have others test that it's worth the money. I'm still a huge fan of the Q6600 processor.

I was thinking of buying a Core i7 processor sometime next year... Possibly Q2? Will there be any significant price drops in this period do you reckon?

Stick with a core 2 duo for gaming IMO.

If you have the money, or have enough money that after to not cry about them, you should not hesitate to buy it, you will not have any problems with it.

id save my money and go with a nice q6600 quad core. mine runs great with anything i throw at it

I have an i7, but a good heavy design + photoshop have the ability to bring any good processor down to it's knees! Same is the case with my i7 rig.