AMD K7 or Intel P!!!?

[Paradox]

...and SSE or 3Dnow! ?
Which one to invest in?
...Or should I wait it out?

[KvHagedorn]

If you are conservative and want the most stable chipset and a wide selection of motherboards, get a P3 and a BX motherboard.
If you are adventurous and want a bit more speed go with a K7 Athlon, but follow Greebe's advice posted here as to which Athlon board is best. He is the authority on Athlons, having put together and overclocked many systems using just about every Athlon board.

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Kind Regards,

KvH