One thing in the defense of Apple... the dual Opteron boxes are going to be very expensive, and are targeted at the server market (no AGP bus). Although I hear that the nforce mobo coming for the Opteron will have 8x AGP. I would say that price wise they're very competitive for a change, and for $3000 you'd be hard pressed to find a PC that can compete with their published performance. I bought a high end Dual Xeon Dell box not long ago that would beat up the Apple... but it also cost almost 10g's.
I just priced a 3ghz Dell system with all the bells and whistles I want (Dual channel ddr, Radeon 9800 Pro with second monitor connector, 120gb SATA, Audigy, 17" flat panel ... $2800. The G5 looks pretty darn competitive.
It's the first Apple I've seen that I'd consider buying, but sadly I'm too M$ commited to do so... my next PC will probably be bought to kick Doom III butt, and all my buddies are PC centric.
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