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But DDRIII costs have been falling quite a bit and if I was building a machine with the intention of a high overclock I would be looking at the frequencies that DDRII Offers.

None of the normal questions have been asked. Ie what is the budget what other hardware is being used etc
Due to the fact the OP is running a skt 478 PIV at the mo it will be a whole new build from scratch

Well in fairness I've done that too but for the most part hardware is global so as long as a body sees what they want they can then look around for it locally.

With the cost of DDR2 currently I would not touch a DDR3 board either as cost outweighs the benefit and even more so with Nehalem on the horizon.

I feel that just as is the case with operating systems where many quite successfully managed to skip WinMe altogether in favor of XP so it is with hardware offerings that many times serve no other purpose than to ensure an income for the manufacturer in between the good items. JMHO

Nehalem is DDRIII only so if you have it now a swap over could be feasible. I personally would not build me a new machine unless I had to right now I would wait for Nehalem anyway its only 4 months away. Mind you Intel do have the EE on the roadmap for Q4 this year .

I wouldnt wait for nehalem. Really, if you read around, the improvements really are only going to help the buisness and server market. Not so much for gaming. Not to mention price. You can count on nehalem parts and boards to be extremely expensive compared to current part prices, because it will be new.

I wouldn't buy anything when it's first released for the simple reason that as you say cost is high but also the possibility of glitches and such that wind up having to be addressed by the manufacturer.

I prefer not to be a guinea pig and leave that up to others.

Right now for example I'm obtaining premium memory that was nearly $400 a year ago (and trust me I wanted it badly back then) for $70 now. Hard as it is patience definitely pays off.

There's always the option of using a board that works with both DDR2 and DDR3.

There are also PC enthusiasts who just spend spend spend and they buy . As for Nehalem only being any use for the business and not for gaming I have to dispute that. On early test boards Nehalem performed 30% faster than the C2D equivalents. Also there is the obvious fact that when it is released C2D parts will drop in price and when LGA1333 boards come in then SKT 775 boards will be cheaper also.

http://www.anandtech.com/cpuchipsets...spx?i=3326&p=6

Bare in mind the boards are only engineering samples and are not full spec. From what I can see once games are true multi threaded the Nehalem will shine and this will happen and not to far in the future

Certainly mirrors my logic.