RAM has gone mental lately, not sure when that will reverse.
Fermi, assuming its good, will make some kind of impact on ATI prices so that could be worth waiting for.
With the second one you dont get HT, slightly more limted GFX options, and dual channel RAM -i5 overclocks quite well but the more bloomfield i7s seem to be happy anywhere from 4-4.4Ghz so its suck it and see in that regard.
PC:
ASUS RIIE // Intel i7 920 D0 4.4Ghz 1.375v //
OCZ Reaper 1800 C8 // Sapphire 5970 1Ghz x2 //
Intel X25-M G2 80GB RAID0 // BeQuiet DPP 1200w //
Seagate 500GB 32mb 7200 // LG BR //
Cooling:
TFC Monsta 6xSharkoon 1200rpm 140mm //
HWL GTX480 4xScythe Ultra Kaze 2000rpm //
EK Supreme LT // EK FC-5970 // XSPC RS120 //
Laing DDC1 3.2 x2 // XSPC Res-tops // KL QDCs