Its July, not June. You probably heard the June from me, but I was wrong. It only ships in June to the sellers, the actual processor come out in July.
Given the use of any PC on the planet, Conroe will be better. Its definately worth the 1-and-a-half-month wait, and I commend you on recognizing it so fast
For an Athlon 64 to match the E6700 you plan on getting, it would have to be a Dual Core 3.5Ghz processor. That gives you an idea of what you're getting for $530.
AMD won't be ahead of Intel for a long time. Definately not in 12 months from the release of Conroe. K8L isn't making any architectural changes, thus won't help AMD's clock-efficiency.
As for overclocking, you can learn how to do it in one day. Its well worth it, seeing as you can get a 3.0Ghz Conroe
And the chance of frying a processor due to overclocking is almost nonexistent nowadays. You'd have to try really hard to fry it. There are built-in failsafe measures to protect it.