First of all, I'm using Paint Shop Pro 7 beta 3 on my machine right now, and I'm getting very annoyed at the time it takes for some operations to complete even with my 667MHz PIII. Thus, I kinda doubt that your PII350 runs Photoshop "really well". But then again, maybe I'm just impatient.
And regarding FS2k, if those graphics require that much power, we need *more* than 2GHz if we want to be satisfied.
When the 2GHz-processors actually enter the market, they *will* have faster chipsets and memory buses available. RAMBUS was a step in the right direction, even if all its problems have made it a complete joke.
As a sidenote, the G4's bus speeds may be higher, but if they keep messing up with their processors they will unavoidably fall behind in speed. (their claims about G4's being faster than x86's at the same clock speeds are true, but they're not as much faster as Apple is trying to get us to believe).
And, like I already said, I won't be happy until I can encode DVD-quality MPEG2 in realtime.
BTW, I'm not limited by something else and confusing it with the CPU speed. I have 256MB of RAM and a Matrox Millennium G400MAX. The rest isn't really relevant for this...