AMD XP vs Intel P4 & M processors

[Hawk45]

I have a question on which is a better way to go?. I am looking to get a laptop for work (rookie web develper) and for fun (music / movie production). All I ever heard was Intel P4's are the best and the more mhz the better.... I am looking for something that will handle all my need but will not break the bank....quality is very important. I usually am running 8-12 apps at one time so power is important but so is remote capabilities. What would satisfy my needs as far as processor, RAM and cache.
Questions:

1. Is cache the most important thing to think about when looking for speed? RAM? Processor mhz? Hard Drive speed?

2. How do AMD XP processors compare to Intel P4 or M?

Thanks,
John

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