Whats the best processor for on-line gaming AMD or Intel?

I'm planning to upgrade my PC and I'm overwhelmed with the number of different processors available, I'm willing to spend up to £350 on the bear-bones and for this amount i can get a much faster speed AMD compared to Intel. Are Intel that much better they can charge so much more for the equivalent speed, or is there more to it? Thanks for your help.

Intel is better that AMD. The latest Intel i7 Processor is unbelievably fast - the fastest processor for personal use in the world! Check it out on Intel's website.

AMD is much better if you do not need a lot of power and you are on a budget. The i7 is superior to anything out on the market right now, but it will cost you.

iv always been an AMD man, iv stuck with em and iv never been let down. the am2+ phenoms are very good cpu's, but i believe its this month that amd are releasing the am3's which allow ddr3 motherboards and memory. they overclocked one from 3ghz to 4ghz on stock cooling which i find impressive. i will always favour AMD but tbh, intel do make good cpu's and it doesnt make a difference in this day and age anyway.