CPU power has pretty much leveled off in my experience. I’m still working on my Intel i7 CPU going on for probably 3-4 years (I think, I have a hard time judging time these days).
Where you want to spend your money is in the Graphics Processor.
The more current versions of Adobe (CS4 and above I think) utilize something called “Mercury Playback Engine” which utilizes the CUDA features of the Video Card for the majority of the heavy lifting in regards to video. And if you think about it, that’s really smart considering that getting 1920×1080 video to run at 30p is cakewalk for a piece of hardware designed to run Call of Duty at higher framerates and larger dimensions.
So where you want to invest is in a CUDA enabled Video card. The nVidia 570 (I think that’s the number) was one I installed in a friend’s editing machine and it screams.
The other thing you’ll want to max out on is RAM. Like Scott said, you MUST run in a 64 bit environment. Then you’ll want a bare minimum of 8 gigs of RAM, but more is better :)
After that, you’ll need a lot of hard drive space. I’m running a 2 drive RAID to try to get a little more speed. I think it’s faster – but I can’t be entirely sure. I use a bunch of other hard drives to back up stuff.